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PGNiG not planning any LNG spot purchases in July 2016

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LNG Industry,

According to Reuters, the deputy chief of PGNiG – the Polish gas distributor – has confirmed that the company is not planning on purchasing any LNG spot cargoes in July 2016 through its new 3 billion zloty (US$774.2 million) terminal in Swinoujscie, Poland. The terminal was recently launched by receiving a 206 000 m3 LNG cargo under a long-term agreement with Qatargas. PGNiG is reportedly planning to import 1.3 billion m3/yr from Qatar.

Reuters reports that PGNiG has stated that it will steadily supplement the Qatargas contract with spot cargoes, in order to continue the diversification of its portfolio. On 25 June 2016, for instance, the company is scheduled to receive its first spot cargo from Norway’s Statoil. The next cargo from Qatargas is not expected until mid-July, which will be followed by one cargo per month in 2H16.

PGNiG’s Maciej Wozniak reportedly said: “In the end we decided that the best offer for spot deliveries is the (June) Statoil ship and for the time being that is enough.

"We'll contract more spot supplies when there are some attractive market opportunities or when a portfolio need occurs."

Edited from various sources by David Rowlands

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