Country for PR: United States
Contributor: PR Newswire New York
Thursday, June 13 2019 - 01:18
PGNiG and Venture Global LNG Agree New Purchase of 1.5 MTPA of LNG
WASHINGTON, June 13, 2019 /PRNewswire-AsiaNet/ --

In connection with the state visit of The President of Poland, Andrzej Duda to 
Washington D.C., the Polish Oil and Gas Company (PGNiG) has 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 (LNG). United States Secretary of Energy, Rick 
Perry and Secretary of State for Strategic Energy Infrastructure of Poland, 
Piotr Naimski attended the signing ceremony.

Under this 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 commence 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).

United States Secretary of Energy, Rick Perry said: "Poland and the United 
States have a strong and strategic alliance and friendship which is fortified 
by a shared commitment to energy security and an understanding that true energy 
security is achieved through energy diversity. Today's announcement of the 
significant expansion of the existing LNG partnership between Venture Global 
and PGNiG further solidifies that goal. Under President Trump's leadership, our 
two nations have launched the U.S.-Poland Strategic Energy Dialogue which 
fosters and supports partnerships just like this. We look forward to even more 
in the months and years to come."

"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 Wozniak, President of the PGNiG Management Board.

"From 2022 and 2023, we will receive a total of 3.5 million tonnes of LNG per 
year from Venture Global LNG's export facilities (both in the state of 
Louisiana), which equals approximately 4.73 bcm of natural gas per year 
following regasification. American LNG is becoming more competitive, which is 
confirmed by consecutive quarters of increased imports by Europe," added Maciej 
Wozniak, Vice-President of PGNiG Management Board for Trade.

Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced: 
"We are delighted to expand our existing strategic partnership with Poland and 
PGNiG, one of Europe's most important international oil and gas companies. With 
Calcasieu Pass already under construction and progressing on schedule, this 
agreement further demonstrates our ability to offer low-cost LNG from our 
Plaquemines project to our international partners.  Plaquemines LNG uses the 
same highly efficient and reliable process system as Calcasieu Pass, provided 
by Baker Hughes, a GE company (BHGE). Mike Sabel and Bob Pender further added: 
"we are also delighted that our project's steam turbines and the generators for 
those turbines will be manufactured in Poland, a global center of manufacturing 

The Federal Energy Regulatory Commission (FERC) recently issued (3rd May 2019) 
a Final Environmental Impact Statement for both the Plaquemines LNG facility 
and the associated Gator Express Pipeline.

Contracts with Venture Global LNG projects have been concluded for 20 years in 
the FOB (Free-on-Board) formula. This means that from the moment of loading in 
the liquefaction facility, the purchaser, in this case PGNiG, controls the LNG 
on board, including deciding on the cargo's destination.

About PGNiG

Polish Oil and Gas Company (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 
subsidiaries import, store, sell and distribute gaseous and liquid fuels. They 
also generate heat and electricity. PGNiG holds stake in about 30 companies 
including entities that provide professional geophysical, drilling and 
maintenance services. PGNiG holds exploration and production licenses on the 
Norwegian Continental Shelf and in Pakistan. The exploration and production 
activity in Norway is carried out by PGNiG Upstream Norway. While Munich-based 
PGNiG Supply & Trading is engaged in gas trading in Western Europe, also 
operating the LNG trading office in London. More can be found at

About Venture Global LNG

Venture Global LNG is a long-term, low-cost provider of LNG to be supplied from 
resource rich North American natural gas basins. Venture Global LNG's 
liquefaction process system employs a highly efficient and reliable suite of 
products supplied by BHGE. Venture Global LNG has begun construction of the 10 
MTPA Venture Global Calcasieu Pass facility at the intersection of the 
Calcasieu Ship Channel and the Gulf of Mexico and is developing the 20 MTPA 
Venture Global Plaquemines LNG facility 30 miles south of New Orleans on the 
Mississippi River, and the 20 MTPA Venture Global Delta LNG facility, also on 
the Mississippi River south of New Orleans. Venture Global has raised 
approximately $2.2 billion of capital to-date to support the development of its 
projects.  More can be found at

SOURCE: Venture Global LNG

CONTACT: Marcin Poznan, Departament Public Relations PGNiG SA, D: +48885257978,; or Investors, Leah Woodward, Venture Global, D: +1 202 
759-6746,, or Press, Jessica Wickett, Venture Global, D: +1 
202 759-6739,