Poland’s PGNiG eyes investment in U.S. shale, LNG terminals

Polish state-owned oil and gas company PGNiG is talking to U.S. companies about participating in liquefied natural gas (LNG) export projects to expand its supply sources, as the company prepares to wean off its Russian supply.

Piotr Naimski, energy infrastructure adviser for the Polish government, told reporters earlier this week the company was considering investing in a medium- or even small-scale U.S. shale gas producer, Kallanish Energy learns.

“PGNiG is exploring such opportunities; we know that the management is conducting preliminary talks with U.S. firms. It’s a matter of finding the right partner,” he said. “PGNiG is considering such options and this is within the company’s strategy of acquiring new gas sources.”

“They also think about having shares in terminals or sometimes building their own, small capacity terminal. These are undertakings whose scale is acceptable to our potential investors,” he added.

The firm has increased its intake of LNG cargoes on a spot basis, it has a long-term LNG supply contract with Qatargas, and a medium-term deal with UK’s Centrica for U.S. LNG. PGNiG has said it won’t extend the long-term gas contract with Russia’s Gazprom, which is due to expire in 2022.

The company has voiced the need for Europe to move away from the monopoly owned by Russian gas producer Gazprom, and sought legal action to stop the firm from building a new gas pipeline to Europe, via Germany – the Nord Stream 2 gas line.

 

Source: www.kallanishenergy.com

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