Today, Venture Global LNG and PGNiG signed a 20-year deal in which will acquire an extra 2 million tons per annum of LNG from Venture Global.Cargoes will be delivered from Venture Global’s LNG export plants in Calcasieu Pass and Plaquemines. The agreements were signed at the Warsaw Stock Exchange during a ceremony.
“Venture Global is pleased to expand our current cooperation with PGNiG in order to deliver a safe and dependable supply of American LNG to Poland. We look forward to many years of assistance from our partner PGNiG in these initiatives,” said Mike Sabel, CEO of Venture Global LNG can diversify its natural gas supply sources and routes by importing LNG. We will be able to provide Polish consumers with energy security consistent and continuous gas supplies in this manner”, said Pawe Majewski, President of the Management Board.
This is especially significant given that natural gas will serve as a bridging fuel in the Polish economy’s energy shift. Simultaneously, access to American LNG allows us to expand commerce in this fuel on the worldwide market for this aim; we will charter LNG vessels to carry liquefied natural gas. In this regard, we appreciate the collaboration with Venture Global LNG since it allows us to achieve our strategic goals”, he added.
An amended Sales and Purchase Agreement was announced today, raising LNG purchases from Calcasieu Pass LNG to 1.5 MTPA and Plaquemine LNG to 4 MTPA, respectively. A free-on-board basis for 20 years, PGNiG will purchase 5.5 million tons per annum (MTPA) of LNG from Venture Global’s facilities.