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PGNiG books more regasification capacity at Swinoujscie terminal

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LNG Industry,

Starting from 2024, Polish Oil and Gas Company (PGNiG) will be able to import 8.3 billion m3/y of natural gas after regasification via the President Lech Kaczynski LNG Terminal in Swinoujscie following completion of a booking procedure for the regasification capacity that will be available to importers once the terminal has been extended.

“The President Lech Kaczynski LNG Terminal is one of the pillars of Poland’s natural gas security, and its extension is a step towards strengthening the country’s energy independence. PGNiG’s rising prominence on the LNG market demonstrates the fast growth of companies supervised by the Ministry of State Assets,” said Jacek Sasin, Deputy Prime Minister and Minister of State Assets.

“We are satisfied with the regasification capacity we have been allocated. It will enable us to effectively implement PGNiG’s plans to diversify gas imports and expand its trading activities on the gas market in Central and Eastern Europe,” said Jerzy Kwiecinski, President of the PGNiG Management Board.

Polskie LNG, the operator of the terminal, announced that in an open season procedure PGNiG has been allocated an annual LNG regasification capacity of 6.2 billion m3 in 2022 - 2023 and 8.3 billion m3 from 2024 onwards. The capacity allocation process is related to a terminal extension project that will increase its regasification capacity. The new regasification capacity has been booked by the Company for 17 years. The two companies have yet to sign relevant agreements.

At present, PGNiG has 5 billion m3 of regasification capacity booked at the terminal, but its needs are constantly growing. PGNiG receives a growing number of spot cargoes, also increasing gas volumes imported from the US under long-term contracts. To note, PGNiG will receive some 1.95 billion m3 of LNG after regasification annually in Swinoujscie under a contract with a US company Cheniere starting from 2023.

LNG is already an important component of PGNiG’s gas import portfolio. Last year, the Company brought 3.43 billion m3 of LNG into Poland (after regasification), over one-fourth more than a year earlier. In the first quarter of 2020 alone, the volume of LNG delivered to PGNiG was 0.98 billion m3 (after regasification), up 34% y/y. The Company buys liquefied gas from Qatar, the US and Norway, seeking to diversify its supply sources, which is crucial to ensure the security of gas supply for customers in Poland. Last year, LNG accounted for 23% of PGNIG’s total gas imports, compared with just 8.4% in 2016. The share of imports from countries east of Poland fell from 89% in 2016 to 60% in 2019.

Thanks to PGNiG’s intensive efforts to diversify its gas imports, with LNG playing a major role in the process, the capacity utilisation at the Swinoujscie terminal reached 67% in 2019.

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