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PGNiG opens UK LNG trading office

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Hydrocarbon Engineering,

Polish Oil and Gas Company Group (PGNiG) has announced that it has opened an LNG trading office in London, UK.

The new LNG office, which is operated by PGNiG Supply & Trading GmbH (PST), is expected to become fully operational by the end of 1Q17.

Piotr Wozniak, President of the Management Board at PGNiG Polish Oil & Gas Company, said: “With this important step PGNiG goes global as a natural gas player […] London is the European trade centre for this commodity. Our presence here will enable us to purchase natural gas for company purposes at more competitive prices. We will also be able to start LNG trading on global markets.”

The office will become PGNiG’s international LNG competence and trading centre for short/medium-term LNG trading. It will also source alternative spot supplies for the LNG terminal in Swinoujscie, Poland.

Uwe Bode, Managing Director of PST, said: “Due to the increase in LNG supplies led by the US and Australia, we expect LNG to become commercially valuable for Europe. This makes LNG an attractive source for the diversification of energy supplies.”

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