PGNiG (Polish Oil and Gas Co.) recently bought an additional 2 million tonnes per annum of liquefied natural gas (LNG) from Virginia-based Venture Global LNG to lower Poland’s carbon footprint.
Venture’s two Louisiana locations are supplying the LNG.
“Venture Global is proud to expand our existing partnership with PGNiG to provide a clean and reliable supply of American LNG to Poland,” Mike Sabel, Venture Global LNG CEO, said. “Since 2018, our two companies have significantly increased our cooperation, nearly tripling the volume of LNG Venture Global will export to PGNiG. Poland will lower its carbon footprint and diversify its energy mix by incorporating more American natural gas into its portfolio. Pivoting toward cleaner natural gas from the United States will not only increase Poland’s energy security but also decrease its carbon emissions, and Venture Global looks forward to supporting our partner PGNiG in these efforts for years to come.”
This will begin in 2023, according to a press release.
“The import of LNG allows PGNiG to diversify sources and routes of supply of natural gas,” Paweł Majewski, the [resident of the PGNiG Management Board, said. “This way we can provide Polish customers with energy security — constant and uninterrupted gas deliveries. This is particularly important considering that natural gas will be a bridge fuel in the process of energy transition of the Polish economy. At the same time, access to American LNG gives us opportunity to develop trade of this fuel on the global market — for this purpose we will charter LNG carriers to transport liquefied natural gas. In this respect, we value cooperation with Venture Global LNG, as it brings us the possibility of achieving our strategic goals.”
Before the amendment to the agreement, Venture supplied 1.5 to 4 MTPA of LNG to PGNiG; now, it’ll increase to 5.5 MPTA of LNG.
“The contracts signed today are another important step on the way to full energy security of our country,” Jacek Sasin, Poland's deputy prime minister and minister of state assets, said. “The American gas, which will be supplied by a reliable and predictable partner, together with the fuel that will flow to Poland via the Baltic Pipe gas pipeline from Norway, will allow us to become independent from supplies from the eastern direction. Diversifying the sources of gas imports and the possibility of choice, as well as the freedom to trade in the purchased fuel, increases Poland's energy independence.”
Venture Global and the Polish Oil and Gas Co. signed their documents signifying the 20-year commitment at a Warsaw Stock Exchange ceremony.
The new agreement is an amendment to an old sales purchase from 2018, increasing PGNiG's volume.