PGNiG eyeing five spot LNG cargoes in June-July

Polish Gas and Oil Company (PGNiG) on Wednesday informed it is looking to buy five cargoes of liquefied natural gas on the spot market. 

According to a company’s statement, the cargoes are targeted for June – July delivery to the Swinoujscie LNG terminal.

The spot cargoes will be delivered to the terminal irrespective of the 1 mtpa of LNG long-term contract PGNiG signed with Qatargas, the company said.

According to Maciej Wozniak, vice president of the management board, trade, spot cargoes allow the company to optimize its portfolio and pricing of gas supplies.

He also noted that this is all part of the preparations for the commencement of the company’s LNG trading activities on an international scale.

Świnoujście LNG terminal, Poland’s flagship project to diversify gas supplies and reduce dependence on pipeline imports from Russia, is expected co commence commercial operations mid-July. The terminal is capable to receive, regasify and deliver 5 bcm of gas per year into the Polish national grid.

Terminal operator, Polskie LNG, recently informed the Governor of West Pomerania Province has granted an operating permit to the LNG terminal in Świnoujście, which allows for the commercial use of the terminal.

LNG World News Staff