Polish Oil & Gas Company (PGNiG) will bring the first delivery of liquefied natural gas from U.S. Supplier to Poland. LNG will be delivered by Cheniere Energy. The transaction was overseen by PGNiG trading office branch in London.
The first cargo of LNG from a U.S. supplier is planned to arrive at the President Lech Kaczyński LNG Terminal in Swinoujscie in the first half of June. The spot cargo will be delivered by Cheniere Energy, the owner of Sabine Pass liquefaction terminal in Louisiana. It is the first delivery of liquefied natural gas from a U.S. company to this part of Europe. For PGNiG it will also be the second spot delivery following a cargo from Norway in June 2016.
“This is a historic moment for PGNiG. North America is becoming the next region for acquiring this strategic commodity after Middle East and Norway. We consistently fulfill our strategy of diversifying gas deliveries to Poland. We build safe and competitive gas market for the Polish economy,” commented Piotr Wozniak, President of PGNiG Management Board. “A future delivery from the USA proves that Poland can become a gateway to Central and Eastern Europe for American LNG. This transaction is a great success of PGNiG’s London office which was opened in February 2017,” added Wozniak.
“Delivering this cargo from Cheniere to Poland demonstrates the continued demand for U.S. LNG and for Cheniere’s full-service model that includes the delivery of LNG directly to customers,” said Jack Fusco, President and CEO of Cheniere. “PGNiG has been an excellent partner in this purchase, and Cheniere is pleased to support Poland accessing LNG.”
Polish Oil & Gas Company consistently fulfills its strategy of diversifying gas deliveries to Poland and the region. Delivery from this new source will let the company optimize its gas portfolio. The latest activity in LNG trade proves that PGNiG intends to be an active player in the global market for this commodity.
Polish Oil and Gas Company (PGNiG) is the leader of the Polish natural gas market. Listed on the Warsaw Stock Exchange the company’s core business includes exploration and production of natural gas and crude oil fields. Its key subsidiaries import, store, sell and distributes gaseous and liquid fuels. They also generate heat and electricity. PGNiG hold stake in about 30 companies including entities that provide professional geophysical, drilling and maintenance services. PGNiG holds exploration and production licenses on the Norwegian Continental Shelf and in Pakistan. The exploration and production activity on the Norwegian Sea is carried out by PGNiG Upstream Norway. While Munich-based PGNiG Supply & Trading is engaged in gas trading in Western Europe.
Cheniere is currently the only exporter of U.S. LNG. Cheniere’s unique business model provides a full-service LNG offering to customers worldwide, which includes acquiring, transporting, and processing pipeline gas, and providing LNG to customers either at the tailgate of the LNG terminal, or on a delivered basis to markets around the world. Cheniere’s Sabine Pass facility in Louisiana began shipments in February, 2016, and the company is building a second facility in Corpus Christi, Texas.