PGNiG and Venture Global LNG Announce LNG Sales and Purchase Agreements for 2 Million Tonnes Per Year

"Recently signed contracts are a milestone towards building PGNiG's position in the global liquefied natural gas market,"said Piotr Woźniak, President of the PGNiG Management Board."Thanks to the FOB formula, we will be able to decide, independently and based on our needs at a given time, whether the purchased LNG load should be directed to Poland or be used for further trading through our London office," added President Woźniak.

WARSAW, Poland, 17/10/2018 (informazione.news - comunicati stampa - energia)

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The new contracts will provide a total of 2 MTPA of LNG, which is approximately 2.7 billion m³ of natural gas after regasification, and this equals – depending on the vessel capacity – over 25 cargoes a year. For a term of 20 years, PGNiG will purchase from each of the companies 1 MTPA of LNG every year on a FOB (free on board) basis, where the seller will deliver LNG to a tanker ship at the loading port and the purchaser will freely dispose of the load, including deciding on the cargo destination.

 www.venturegloballng.com.