World 08-11-2018

Poland will buy liquefied natural gas from the US company Cheniere for 24 years

The Polish Petroleum and Gas Mining Corporation, PGNiG, signed a 24-year contract with US-based Cheniere Marketing International to import liquefied natural gas (LNG) from the US.

The subscription ceremony took place in Warsaw in the presence of Polish President Andrzej Duda and US Energy Secretary Rick Perry.

In the period from 2019 to 2022, the volume of supplies will total about 0.52 million tons of LNG, the equivalent of some 700 million cubic meters of natural gas after regasification.

From 2023 to 2042, imports will reach 1.45 million tons of LNG per year, or about 1,950 million cubic meters of natural gas after regasification.

"We bought gas from several suppliers in the US, at prices that are always between 20 and 30% better than Gazprom," PGNiG executive Piotr Wozniak told reporters.

Last October, PGNiG agreed with another US company, Venture Global LNG, to supply two million tons per year of LNG in the next 20 years.

A contract signed with Gazprom in 1996 provides for the annual supply of up to 10,000 million cubic meters of gas from Russia to Poland. Poles strive to diversify the list of suppliers, but consumption of gas in the domestic market rose from 15,000 million cubic meters in 2015 to 17,000 million in 2017, and the import of Russian gas increased by 11.7% between January and September of this year.


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