Polish PGNiG, Venture Global finalize US LNG supply deal

Energy Trade

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Poland's oil and gas company PGNiG (Polskie Górnictwo Naftowe i Gazownictwo SA) has finalized a recently announced deal under which it will buy more liquefied natural gas (LNG) from U.S. liquefaction plant developer Venture Global LNG.

Under the deal, Poland's dominant gas firm and LNG importer will purchase another 2 million metric tons (mt) on a free on board basis for 20 years. As a result, PGNiG's contracted volume from Venture Global LNG will increase to 5.5 million mt (7.4 billion cubic metre) of gas per year.

Venture Global's Calcasieu Pass and Plaquemines LNG export facilities will supply the volumes while the first shipments should begin in 2023. The new deal amends the original contract concluded back in 2018. PGNiG and Venture Global signed the amendments on Thursday during a ceremony at the Warsaw Stock Exchange, according to a joint statement. 

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