PGNiG and Venture Global LNG Agree New Purchase of 1.5 MTPA of LNG

Yesterday the Polish Oil and Gas Company (PGNiG) signed, in the Eisenhower Executive Office Building of the White House, an agreement with Venture Global LNG to purchase an additional 1.5 million tonnes per annum (MTPA) of liquefied natural gas. United States Secretary of Energy, Rick Perry and Secretary of State for Strategic Energy Infrastructure of Poland, Piotr Naimski attended the signing ceremony.

Under the agreement, the volume of LNG from the Plaquemines terminal will increase from 1.0 to 2.5 million tonnes per year (from 1.35 to 3.38 bcm of natural gas after regasification). Deliveries will start on the commercial operation date currently expected in 2023. This new amendment raises PGNiG’s total commitment with Venture Global LNG projects to 3.5 MTPA (4.73 bcm), sourced from Calcasieu Pass (1 MTPA) and Plaquemines LNG (2.5 MTPA).

“We are increasing our LNG portfolio in terms of volumes, which we will receive from the USA after 2022, i.e. after the expiration of the Yamal contract. Thanks to good relations with our American partners and effective negotiations, we have achieved a highly competitive LNG supply from the Plaquemines terminal,” said Piotr Woźniak, President of the PGNiG Management Board.

Venture Global Calcasieu Pass is a planned LNG export facility in Cameron Parish, Louisiana. Venture Global Plaquemines LNG is a planned LNG facility in Plaquemines Parish, Louisiana, approximately 20 miles south of the Port of New Orleans.