PGNiG SA commits to storing natural gas stocks
Published by Louise Mulhall,
Editorial Assistant
Hydrocarbon Engineering,
With the ticketing service in place, the companies involved in natural gas imports to Poland no longer need to arrange the storage of mandatory stocks of natural gas on their own. The total volume of gas stocks kept by PGNiG on behalf of other companies amounts to nearly 370 000 MWh (about 33 million m3).
Under the law, natural gas importers to Poland are required to keep the mandatory stocks of natural gas in storage facilities located in Poland or countries that are a party to the agreement on the European Economic Area. One way to satisfy this statutory requirement is to sign a so-called ticketing service contract, ordering another entity to keep the mandatory stocks in a storage facility on its behalf. The Minister of Energy decides about the release of the mandatory stock.
Natural gas stocks maintained by PGNiG on behalf of other entities will be stored in Gas Storage Poland facilities, located in Poland. Appropriate storage capacity has already been allocated by PGNiG, and gas stocks have been injected.
“PGNiG keeps the mandatory stocks of natural gas because of its own imports, but it also owns the commercial stocks. Based on the injected commercial stocks we have offered the ticketing service under competitive conditions”, commented Maciej Wozniak, Vice-President of PGNiG Management Board, Trade. “In essence, this means that we make some of the gas we own already injected in the storage facility available to the importers, providing them with comprehensive services in terms of gas stock management and logistics. As a result our counterparties do not have to go through complicated logistic process, and are able to focus on their core business instead”, he added.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/16102017/pgnig-sa-commits-to-storing-natural-gas-stocks/
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