WARSAW, Poland, Nov. 22, 2017 /PRNewswire/ -- The contract,
signed with Centrica, is on a DES delivery basis and will begin in
2018. Up to 9 cargoes will be delivered during term of contract to
the President Lech Kaczyński LNG Terminal in Świnoujście, where
PGNiG recently booked additional regasification capacity. The
primary source of LNG delivered under this contract shall be the
North American natural gas liquefaction terminal located at Sabine
Pass, Louisiana.
This is the first medium-term LNG agreement signed by PGNiG
Supply & Trading's branch office located in London, which is dedicated to global LNG
trading.
The agreement follows through on PGNiG's strategy of securing
reliable and diversified gas supplies for Poland and its growing trading capability in
the European market. It is also the first mid-term contract for LNG
from the USA in Central and
Eastern Europe. In October this
year, PGNiG also took part in a binding Open Season procedure for
capacity bookings from the planned 10 bcm/y pipeline corridor
(Baltic Pipe), which will connect the Norwegian Continental Shelf
with Poland in 2022.
"Preceded by the long term contract for LNG deliveries
from Qatar and several spot
deliveries in 2017, this agreement shows that we are stepping into
a new level of global LNG market activity. This five-year
agreement for American LNG deliveries is based on gas market
conditions. We look forward to working with Centrica as a
partner to continue to provide diversified supply into Poland," said Piotr
Woźniak, CEO and President of the Management
Board of PGNiG.
"This agreement is the first of its kind in
PGNiG's planned portfolio of medium-term LNG
agreements. Most of these LNG supply agreements will be dedicated
to the gas markets of Poland and
other Central European countries in order to increase the energy
security of this region, which has historically been dominated by
Russian gas," added Piotr
Woźniak.
"We are extremely pleased to have concluded this mid-term
contract with PGNiG as part of Centrica's strategy to
build our global LNG portfolio. Our reliability, experience and
trading capabilities mean we are well placed to deliver LNG into an
ever growing number of markets around the world. We really
look forward to working with the team at PGNiG over the coming
years," commented Jonathan Westby, Centrica Managing Director of
Energy Marketing & Trading.
Polish Oil and Gas Company (PGNiG) is the leader of the
Polish natural gas market. The company's core business includes
exploration and production of natural gas and crude oil. Its
subsidiaries import, store, sell and distribute gaseous fuels. They
also generate and trade heat and electricity. PGNiG holds stake in
30 companies including entities that provide professional
geophysical, drilling and maintenance services. PGNiG holds
exploration and production licenses in Norway and in Pakistan.
Centrica plc is an international energy and services
company organised around two global customer-facing divisions,
Centrica Consumer and Centrica Business, focused on the residential
consumer and the business customer respectively. Centrica's areas
of focus for growth are Energy Supply & Services, Connected
Home, Distributed Energy & Power and Energy Marketing &
Trading. Centrica develops new and innovative products and
services for customers globally and supplies more than 27 million
customer accounts mainly in the UK, Ireland and North
America through strong brands such as British Gas, Hive,
Direct Energy and Bord Gáis Energy, supported by around 12,000
engineers and technicians. Within Centrica's Energy marketing &
Trading business, Centrica LNG Company Ltd is involved in the
wholesale trading and supply of LNG globally.
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SOURCE PGNiG