Two very important agreements between PGNiG and American companies have been signed. This means that we will receive gas from the USA for the next 20 years.
Two long-term contracts
Two American companies, namely Venture Global Plaquemines LNG LLC and Venture Global Calcasieu Pass, have signed long-term contracts with the Polish Oil and Gas Industry. Over the next 20 years, PGNiG will collect gas for domestic use or for subsequent resale from the USA.
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Plans from June
In fact, the signing of these two contracts was not a hasty decision or anything that PGNiG would not have mentioned before. Information on planned contracts has been published since June this year, but it took time to obtain all approvals. Poland has already used gas from the USA. We had the first delivery in June 2016, and as the President of PGNiG himself says, the price of this gas is 20% cheaper than supplies from the East.
Contract terms
Liquefied natural gas (LNG) will be delivered to Poland for the next 20 years. One of the most important terms of the contracts is the amount of gas that our country is obliged to purchase every year. This amount is about 1 million tons of LNG, which is about 1m35 billion m3 of natural gas after regasification. It is a condition of each of the contracts, so the given amount should be doubled due to the signing of two contracts.
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Resale possible
PGNiG concluded a very advantageous contract with the USA, as the purchased gas is possible for further sale. This means that Polskie Górnictwo Naftowe i Gazowe will independently decide whether the purchased gas will be used inside the country or whether it will be intended for further sale as part of the office in London. Important information is also the fact that this type of long-term agreement is the first such in Central Europe concluded by America.
