PGNiG to buy more US LNG from Venture Global, ends Port Arthur deal

Venture Global LNG is building an export facility in Louisiana and has proposed three others. PGNIG separately terminated an offtake deal with Sempra that was tied to a delayed liquefaction project in Texas.

PGNiG, based on a new preliminary agreement, may tap other facilities in Sempra’s North American portfolio, which includes an LNG terminal in operation in Louisiana, a proposed expansion of that terminal and an under-construction liquefaction terminal in Mexico.

PGNiG is looking at US LNG to help meet increased gas demand in Poland as well as to eliminate the need for Russian pipeline gas imports.

It said in a statement that it has agreed to buy a further 2 million mt/year of LNG from Venture Global, bringing its total contracted volume with the company to 5.5 million mt/year. At the same time, PGNiG said it terminated a supply deal for 2 million mt/year of LNG from Sempra’s proposed 11 million mt/year Port Arthur LNG export facility citing project delays.

“LNG plays a vital role in PGNiG’s strategy — it is a key component of our supply portfolio diversification and the plan to reinforce the energy security of our customers,” PGNiG chief commercial officer Pawel Majewski said in his company’s statement.

Majewski said the MOU allowed for “shifting the volumes originally contracted at Port Arthur LNG to other facilities from Sempra LNG’s projects portfolio.”

Source

Our privacy policy
%d bloggers like this: