Sempra Energy Subsidiary And Polish Oil & Gas Co. Sign Definitive Agreement To Export U.S. LNG To Europe
Today's announcement is an important milestone as
"This agreement marks an important step toward
"This agreement with PGNiG represents an important expansion of our portfolio of contracts for LNG exports and major step forward in the development of our Port Arthur LNG project," said
"Our activities show that we consistently implement our strategy," said Piotr Woźniak, president of the management board of PGNiG. "Another long-term contract not only allows us to develop LNG portfolio with a view to delivering to
While financial terms were not disclosed, the agreement is for the sale and purchase of 2 Mtpa, or approximately 2.7 billion cubic meters per year (after regasification) – enough natural gas to meet about 15 percent of
Under the agreement, LNG purchases from Port Arthur LNG will be made on a Free-On-Board basis, with PGNiG responsible for shipping the LNG from the
In addition to the PGNiG agreement,
Development of the Port Arthur LNG liquefaction facility is contingent upon obtaining additional customer commitments, completing the required commercial agreements, securing all necessary permits, obtaining financing, incentives and other factors, and reaching a final investment decision.
PGNiG is the leader of the Polish natural gas market. Listed on the
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Doug Kline, Sempra Energy, (877) 340-8875 (U.S.), (619) 699-5110 (Outside the U.S.), email@example.com, Twitter: @SempraEnergy or Marcin Poznan, PGNiG - Polish Oil and Gas Company, +48-885-257-978, firstname.lastname@example.org; Financial Contacts: Patrick Billings, Sempra Energy, +1-877-736-7727, email@example.com or Marcin Piechota, PGNiG - Polish Oil and Gas Company, +48-885-889-890, firstname.lastname@example.org