Venture Global LNG and Polish Oil and Gas Company (PGNiG) finalized an agreement under which PGNiG will purchase an additional 2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global for 20 years, Venture Global announced on Thursday.
Cargoes will be supplied from Venture Global’s Calcasieu Pass LNG and Plaquemines LNG export facilities.
The agreement was signed during a ceremony at the Warsaw Stock Exchange.
'Venture Global is proud to expand our existing partnership with PGNiG to provide a clean and reliable supply of American LNG to Poland. Since 2018, our two companies have significantly increased our cooperation, nearly tripling the volume of LNG Venture Global will export to PGNiG. Poland will lower its carbon footprint and diversify its energy mix by incorporating more American natural gas into its portfolio,' commented Mike Sabel, chief executive officer of Venture Global LNG.
According to Pawel Majewski, the president of the PGNiG, the import of LNG from the US allows PGNiG to diversify natural gas supply and route sources, and to develop trade on the global market.
Today’s announcement amends the existing sales and purchase agreements signed by the companies in 2018, increasing the volume of LNG purchased from Calcasieu Pass LNG to 1.5 MTPA and the volume from Plaquemines LNG to 4 MTPA. This brings the total volume of LNG PGNiG has committed to purchase from Venture Global facilities to 5.5 MTPA, for 20 years on a free-on-board basis.
Venture Global is a provider of US LNG that is sourced from North America's resource-rich natural gas basins.
The company is currently constructing or developing 70 MTPA of production capacity in Louisiana to provide clean, affordable energy.
By Murat Temizer