Qatargas, LNG Company, today announced the signing of a side agreement to the existing Sale and Purchase Agreement (SPA) with Polish Oil and Gas Company (PGNiG). Under the terms of the agreement, Qatargas will increase the volume of liquefied natural gas (LNG) currently supplied to PGNiG to two million tonnes per annum (MTPA).
Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer, and Chairman of Qatargas Board of Directors, said: “We are very pleased that we have signed this agreement, which marks another milestone for us in Qatar, as we continue to meet the requirements of our customers worldwide. I would like to take this opportunity to thank PGNiG for their trust in Qatargas”.
Piotr Woźniak, Chief Executive Officer and President of the PGNiG Management Board, added: “PGNiG is firmly committed to expanding its LNG portfolio and our presence in the global LNG market. I’m very pleased that Qatargas and PGNiG have been able to achieve an agreement which contributes to the realization of the long-term goals of both companies and supports the implementation of our strategy to diversify natural gas supplies to Central and Eastern Europe.”
The new agreement will come into effect on 1 January 2018 and will run until June 2034. The LNG will be supplied from Qatar Liquefied Gas Company Limited (3) (“Qatargas 3”), a joint venture between Qatar Petroleum, ConocoPhillips, and Mitsui & Co. Ltd., and will be delivered on board Q-Flex LNG vessels to the President Lech Kaczynski LNG Terminal in Swinoujscie, Poland.
Source & Image credit: Qatargas
