Qatargas signs new agreement with PGNiG

abarrelfullabarrelfull wrote on 11 Dec 2014 08:02

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June 29, 2009

Qatargas and PGNiG today jointly announced the signing of a Sales and Purchase Agreement (“SPA”) for LNG supply from Qatar to Poland.

Under the terms of the SPA Qatargas will supply one million tonnes per annum (“mtpa”) of liquefied natural gas (“LNG”) to POLSKIE GÓRNICTWO NAFTOWE I GAZOWNICTWO S.A. (PGNIG) under a 20 year long term agreement.

The LNG will be delivered into a new LNG receiving terminal in Poland, to start in 2014. The terminal will be capable of receiving the cargoes using the new Q-Flex class of vessels. PGNiG intends to use the LNG to supply mainly industry, chemical companies, commercial power companies and users.

Mr. Faisal M. Al Suwaidi, Chairman and Chief Executive Officer of Qatargas Operating Company Ltd. said; “We are very happy with this new market development, which will help fuel sustainable economic growth and development in Eastern Europe. Poland represents a new market for our premium LNG and further demonstrates our commitment to diversify our customer base while providing our customers with reliable alternative sources of energy supply”

Mr Michał Szubski, Chairman and Chief Executive Officer of PGNiG said: “We are happy that efficient negotiations with Qatargas led us to where we are today. The LNG import is an important element of the PGNiG strategy to diversify the supplies portfolio and to secure additional volumes for the growing market of natural gas in Poland. I believe that the SPA signing is only a beginning of the Qatargas and PGNiG long-term co-operation”

Qatargas is currently under going a major expansion program and had successfully commissioned its mega Train 4 this year. The company will see an increase of LNG production from 10 mtpa last year to 42 mtpa by the end of the decade.

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