Poland’s PGNiG gets another US spot LNG cargo

Polish Oil and Gas Company (PGNiG) will receive another spot cargo of U.S. liquefied natural gas (LNG) on Thursday.

For illustration purposes only (Image courtesy PGNiG)

The LNG will be supplied by UK-based Centrica LNG under a spot contract executed by the PGNiG trading office in London, PGNiG said in a statement.

It will be the third spot delivery this year and seventh since the President Lech Kaczyński Terminal, Poland’s only LNG import facility located in Swinoujscje, launched in 2015.

The Hoegh Gallant vessel will arrive in Poland carrying on board approximately 65 thousand tonnes of LNG, which, after regasification, will yield almost 90 mcm of gas, PGNiG said.

“We are consistently building a portfolio of LNG contracts that is diversified not only in terms of supply directions, but also contract terms. Therefore, beside signing long-term and medium-term contracts, we are still interested in favourable offers on the spot market,” said Piotr Woźniak, President of the Management Board of PGNiG.

PGNiG, that is responsible for all of the LNG deliveries to the Swinoujscje facility, has received 45 LNG cargoes at the terminal so far, sourced in Qatar, Norway and the US.

Irrespective of the spot transaction, the company receives liquefied gas from Centrica under a five-year contract of November 2017, providing for a total of nine LNG deliveries.

LNG represents a growing share of PGNiG’s total imports. In the first nine months of 2018, the company imported 1.96 bcm of LNG (after regasification), accounting for 18 percent of all gas volumes it sourced abroad. A year earlier, the respective figures were 1.33 bcm and 13 percent.

In 2018, PGNiG signed three long-term LNG supply contracts with US-based companies Venture Global and Cheniere, under which they are to deliver a total volume of just under 70 million tonnes (95 bcm after regasification).

Deliveries from Cheniere are due to start in 2019, while LNG from Venture Global will be available from 2022 and 2023, once the company’s two liquefaction terminals in the Gulf of Mexico come on-stream.