US LNG terminal to bring gas to Poland expands

The Calcasieu Pass LNG export terminal in Louisiana, from which PGNiG will import gas to Poland from the US, is being expanded. VentureGlobal LNG has received a permit to start up the 4th unit for liquefying natural gas, Reuters reports.

The agency adds that the permit to launch the 4th natural gas liquefaction unit was issued by the Federal Energy Regulatory Commission (FERC).

One of Venture Global’s clients is Polish Oil and Gas Company (PGNiG). In September last year, the Polish company annexed a long-term supply contract with Calcasieu Pass.

According to the annexe, supplies from the Calcasieu Pass LNG terminal in Calcasieu Parish will increase from 1 million to 1.5 million tons of LNG per year for 20 years. For the Plaquemines LNG terminal in Plaquemines Parish, the annexe will increase deliveries from 2.5 million tons to 4 million tons of LNG per year for 20 years.

First deliveries are scheduled for early 2023. In total, the target volume of LNG received from Venture Global is 7.4 billion cubic meters after regasification. The contracts are based on the FOB (Free On Board) formula, which means that PGNiG may resell the gas to another customer after receiving it from the terminal.

source: PortalMorski.pl