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  • PGNiG with long-term reservation of regasification capacity at Klaipeda terminal
    édité le 03/10/2022 - Plus de news de "PGNIG" - Voir la fiche entreprise de "PGNIG"

PGNiG with long-term reservation of regasification capacity at Klaipeda terminal
PGNiG has secured a regasification capacity at the Lithuanian LNG terminal. This will provide the Company with the ability to import over 0.5 billion cubic meters of natural gas per year through the terminal. The reservation period is 10 years.

Klaipedos Nafta (KN) - the operator of the LNG terminal in Klaipeda, Lithuania - has concluded long-term regasification capacity allocation procedure at the Lithuanian LNG terminal. PGNiG has been awarded with capacity that will allow the company to regasify 6 TWh of liquefied natural gas per year, which is equivalent to over 0.5 billion cubic meters of gas after regasification. The reservation is for the period from January 1, 2023 to December 31, 2032.

“LNG plays a fundamental role in the supply diversification strategy of both Poland and Lithuania. Having secured the long-term reservation of regasification capacity at the terminal in Klaipeda, PGNiG will be able to use its expertise in LNG trading to strengthen the availability of gas for customers in both countries. I am convinced that the cooperation between Klaipedos Nafta and PGNiG will not only contribute to the business plans of both companies, but will also enable further integration of gas markets in this part of Europe," says Iwona Waksmundzka-Olejniczak, CEO of PGNiG SA.

“We are glad that PGNiG has successfully started using LNG terminal in Klaipėda earlier this year and expressed their interest in the long-term commitment. Allocation of the long-term capacity extends our future cooperation and will further contribute to the enhanced energy security of the region and efficient utilization of the infrastructure in Klaipėda”, says Darius Šilenskis, KN CEO.

PGNiG has started to use Klaipeda LNG Terminal earlier this year. The first LNG cargo ordered by the PGNiG Group was delivered to the Lithuanian FSRU on May 6, 2022. Since then, PGNiG has received 6 deliveries at the facility. After regasification, part of the cargo was sold to customers from the Baltic States, while the rest was transported to the Polish market via the Gas Interconnection Poland–Lithuania, which was launched in May 2022.

The long-term reservation of regasification capacity at Klaipeda LNG terminal is a part of the PGNiG Group's strategy for the liquefied natural gas market. The Company's LNG contract portfolio includes, among others, free-on-board (FOB) contracts, which stipulates that a buyer is responsible for receiving and transporting a cargo from a gas liquefaction terminal. It is also up to buyer to decide on a port of destination of the delivery. PGNiG will thus be able to direct LNG cargoes not only to the Polish Świnoujście regasification facility, but also to other terminals, including Klaipeda.

About PGNiG

PGNiG is the leader of the Polish natural gas market. Listed on the Warsaw Stock Exchange, the company’s core business includes exploration and production of natural gas and crude oil. Its key branches and subsidiaries import, store, sell and distribute gaseous and liquid fuels. The PGNiG Group is also involved in district heating and electricity generation. PGNiG holds exploration and production licenses on the Norwegian Continental Shelf, in Pakistan and United Arab Emirates. Its Munich-based subsidiary PGNiG Supply & Trading is engaged in gas trading in Western Europe, also operating the LNG trading office in London. In 2020, PGNiG launched a research program aimed at developing competences in production, storage, and distribution of biomethane, hydrogen and other alternative fuels. The PGNiG Group is also expanding its capacity of electricity generation from renewable energy sources based on photovoltaic and wind farms.

Origine : Communiqué PGNIG

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