Wednesday November 21, 2018 15:16

Energy Press Release : 18 Oct 2018

PEA is ready to stage Thailand Lighting Fair 2018 under the theme the future of light: smart, sustainable, human-centric Energy—18 Oct 18

Recently, Sermsakul Klaikaew (center) Governor of Provincial Electricity Authority (PEA), Sompong Preeprem (2nd right), Deputy Governor (Planning and Power System Development), Nikom Lertmalligarporn (far right) Representative of Messe Frankfurt in

PGNiG and Venture Global LNG Announce LNG Sales and Purchase Agreements for 2 Million Tonnes Per Year Energy—18 Oct 18

WARSAW, Poland--18 Oct--PRNewswire/InfoQuest

For a 20-year term, Polish Oil and Gas Company (PGNiG) will receive liquefied natural gas from the USA for domestic customers or for resale. Under the agreements, PGNiG will purchase LNG on a free on board (FOB) basis starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022, and the commercial operation date of the Venture Global Plaquemines LNG export facility, currently expected in 2023.

The binding contracts were signed between Polish Oil and Gas Company (PGNiG) and two subsidiaries of Venture Global LNG – Venture Global Calcasieu Pass, LLC and Venture Global Plaquemines LNG, LLC. Both contracts are the result of an agreement concluded in June 2018 with Venture Global LNG.

"Recently signed contracts are a milestone towards building PGNiG's position in the global liquefied natural gas market," said Piotr Wo?niak, 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 Wo?niak.

"The contract conditions in the USA are very attractive. The LNG price is based on the America