Venture Global LNG said Sept.2 it has signed a long-term agreement with Polish oil and gas company PGNiG, under which Venture will supply an additional 2 million tonnes per annum (mtpa) of LNG to PGNiG for 20 years. Cargoes will be supplied from Venture's planned Calcasieu Pass and Plaquemines export terminals in Louisiana.
The deal amends an existing sales and purchase agreement signed in 2018. Combined with the terms outlined in the latest deal, PGNiG has committed to purchasing 5.5 mtpa from Venture Global for 20 years on a free-on-board basis.
"Venture Global is proud to expand our existing partnership with PGNiG to provide a clean and reliable supply of American LNG to Poland," said Mike Sabel, CEO of Venture Global LNG.
"Since 2018, our two companies have significantly increased our cooperation, nearly tripling the volume of LNG Venture Global will export to PGNiG. Poland will lower its carbon footprint and diversify its energy mix by incorporating more American natural gas into its portfolio. Pivoting towards cleaner natural gas from the United States will not only increase Poland's energy security but also decrease its carbon emissions, and Venture Global looks forward to supporting our partner PGNiG in these efforts for years to come."
Calcasieu Pass will export 10 million metric tons per year (MMmt/y) of LNG once deliveries begin next year. Construction on the 20 MMmt/y Plaquemines terminal is slated to start this quarter and exports are expected to begin in 2023.
The discovery was located within title AC/P64 about 160 km (99 miles) northeast of the Shell-operated Prelude floating LNG facility.
Oil rigs down eight to 677, gas rigs unchanged at 125
The Froskelår Main exploration well, drilled in production license 869, has a gross resource estimate of up to 130 million barrels of oil equivalent, according to Aker BP.