PGNiG Buys 2nd Spot Norwegian Cargo

Poland's state-run gas importer PGNiG has bought its second spot LNG cargo from Norway, it said September 4, ahead of the cargo's scheduled arrival September 9. The vessel Arctic Discoverer is carrying about 140,000 m³ of LNG, equivalent to about 84mn m³ of gas.

"Thanks to spot deliveries we can profitably complement our portfolio of gas supplies,” said PGNIG CEO Piotr Wozniak. “Norwegians have been proven partners not only at co-operating on the Norwegian Continental Shelf, but also at LNG contracts,” he added.  PGNiG imports most of its gas from Russian gas export monopoly Gazprom, with whom it is still in a take or pay dispute. PGNiG has some equity production in Norway, in the Skarv gas field and four other fields, gas from which it trades in Germany whence the gas is delivered by pipeline.

PGNiG has also imported one spot cargo from the US and one from Qatar, in addition to receiving more regular Qatari term cargoes. PGNiG opened its LNG trading office in London in February this year in order to focus on market opportunities arising from relatively cheap LNG.

Between June 2016 and August 2017 Poland has received almost 2.1bn m³ of natural gas as LNG, and next year this volume can rise as it is taking all the capacity in the terminal, now 5bn m³/yr. Next year its deal with Qatargas allows it to take 2.9bn m³. The terminal is being expanded as well by 50% to 7.5bn m³ which PGNiG has not expressed interest in booking, it told NGW.

William Powell