Wednesday 24 December 2014
New agreement on the gas supply for the Swinoujscie LNG terminal
The agreement reached by the Polish Oil and Gas
Company (PGNiG) and Qatargas, postponing the date for LNG supplies PGNiG, is
beneficial from the point of view of country’s energy security. New agreement strongly
reduces the risk of the costs related to PGNiG’s missed loads.
New agreement is constructed in a way that, is said,
satisfied both sides. Polish will cover the price difference that Qatargas will
be influenced by, due to the fact that they need to sell contracted gas on the
wholesale market. The volumes that have been recorded in a 20-year contract
still apply but the current contract has been adjusted for greater flexibility
in its implementation. "This amended
contract explicitly removes the pressure of time from issues related to
finalizing works in construction of the terminal, which require special care
and reliability" said Minister of Treasury onet.pl portal -
Wlodzimierz Karpinski. This comfort definitely improves Polish energy security.
Under the agreement, which was concluded 6 years ago,
starting from the second half of 2014 PGNiG was supposed to receive liquefied
natural gas from Qatargas at the Swinoujscie LNG terminal. The contracted amount
equaled to 1 million tons or approx. 1.5 billion m3 of LNG per year. Signed
contract included penalties for the missed loadings, caused by the Polish
counterparty, therefore the agreement significantly reduced the costs PGNiG has
to bear due to the delay in construction of the terminal.
LNG terminal in Swinoujscie was designed to ensure
greater independence of gas supplies from Russia. However, its construction has
stalled. The original date for finishing the construction was supposed to be
June 30,2014 but it seems that the terminal will not be ready to use this year.
The detailed information about LNG Terminal has been
described in a note few months ago, in relation to another Eastern European LNG
construction: http://polish-energy-blog.blogspot.it/2014/08/poland-might-lose-its-competitve.html
References:
http://www.polskielng.pl
Picture:
http://gazlupkowy.pl/wp-content/uploads/2012/12/LNG-terminal.jpg
Subscribe to:
Post Comments
(
Atom
)
No comments :
Post a Comment
This blog is a place where people show each other respect and discuss in reverent manner. Please, keep that in mind while posting your comment