• Natural Gas News

    Poland Ramps Up Spot LNG

Summary

The terminal is being used more this year for spot imports.

by: William Powell

Posted in:

Market News, Liquified Natural Gas (LNG), News By Country, Poland

Poland Ramps Up Spot LNG

Polish Oil & Gas Company (PGNiG) is taking two spot cargoes over two days. One came on February 11, from the US Sabine Pass terminal, on board the 64,000 metric tons (mt) Flex Rainbow and the second is due February 12, the seller being the UK utility Centrica. 

These are the second and third spot cargoes to arrive this year at its wholly-owned LNG terminal in Swinoujscie, it said February 11. So far it has bought 11 spot cargoes, its London office being the centre for its LNG trading activities.

PGNiG imports LNG from Qatar, Norway and the US on the basis of agreements with Qatargas and Centrica, as well as on the basis of spot contracts. This year, regular LNG deliveries from the US will begin on the basis of a long-term contract with Cheniere Energy – owner of the Sabine Pass terminal.

PGNiG last year signed four contracts with US partners, another being Venture Global which is yet to announce its final investment decision on the two plants where PGNiG is planning to buy from.