PGNiG, Qatargas, alter LNG supply deal terms

Poland’s PGNiG informed that it has further amended the terms of the LNG supply deal with the world’s largest LNG producer, Qatargas signed in June 2009.

According to the amendment, Qatargas will divert LNG supplies destined for PGNiG to other clients during the first six months of 2016, until the Swinoujscie LNG terminal reaches full functionality, the company revealed in a statement.

The deal also stipulates that PGNiG will cover the difference between LNG price specified in the initial contract and the market price at which Qatargas sells the LNG. However, should the sale price be less than satisfactory to the Qatari company, the companies agreed to add to the initial contract term and deliver the unsold cargoes subsequently.

This is the second amendment of the contract terms. Both companies already agreed in December 2014 that Qatargas will place the LNG expected to be supplied to PGNiG in 2015 (approximately 1.5 bcm) on other markets.

 

LNG World News Staff; Image: Qatargas

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