Under the terms of the SPA, Qatargas will increase the volume of LNG currently supplied to PGNiG to 2 million tpy. The new agreement will come into effect on 1 January 2018 and will run until June 2034.
Piotr Wozniak, Chief Executive Officer and President of the PGNiG Management Board, said: “PGNiG is firmly committed to expanding its LNG portfolio and our active presence in the global LNG market. I’m very pleased that Qatargas and PGNiG have been able to achieve an agreement which contributes to the realisation of the long-term goals of both companies and supports the implementation of our strategy to diversify natural gas supplies to Central and Eastern Europe.”
Maciej Wozniak, Executive Vice President of the PGNiG Management Board, added: “This agreement is the next meaningful step in deepening our close partnership with Qatargas, the world’s biggest LNG company, and reaffirms Qatargas’ commitment to supporting the development of an LNG hub in Poland. This agreement will also contribute to building the company's value for shareholders.”
Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer, and Chairman of Qatargas Board of Directors, added: “We are very pleased that we have signed this agreement, which marks another milestone for us in Qatar as we continue to meet the requirements of our customers worldwide. I would like to take this opportunity to thank PGNiG for their trust in Qatargas”.
The LNG will be supplied from Qatar Liquefied Gas Company Limited (3) (Qatargas 3), a joint venture between Qatar Petroleum, ConocoPhillips, and Mitsui & Co. Ltd. It will be delivered on board Q-Flex LNG vessels to the President Lech Kaczynski LNG Terminal in Swinoujscie, Poland.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/14032017/pgnig-and-qatargas-ink-agreement/