Poland signs 20-year deal on U.S. LNG supplies
U.S.-based Venture Global LNG signed a 20-year deal for the delivery of 2 mtpa of liquefied natural gas from its Calcasieu Pass and Plaquemines LNG facilities to Polish Oil & Gas Company (PGNiG).
The agreement defines basic terms and conditions of the contract which equals about 2.7 bcm following regasification, Venture Global LNG said in its statement, LNG World News reported.
Cargoes will be supplied from Calcasieu Pass and Plaquemines LNG export facilities which are expected to be completed in 2022 and 2023 respectively. Both terminals will be located by the Gulf of Mexico in Louisiana.
Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG noted that PGNiG will be joining the company's existing global partners Shell, Edison, Galp and BP in the Calcasieu Pass project and becomes one of the foundation partners for Plaquemines LNG.
Speaking of the agreement, Piotr Wozniak, CEO and president of the management board at PGNiG, said, "purchasing of liquefied natural gas in the USA will not only allow further diversification of our import portfolio following 2022, but will also let us develop our trading competencies."
Deliveries may be subject to further trading on international markets and will be supplied on a free-on-board basis (FOB).