Friday, April 12, 2024
HomeLNGPGNiG secures long-term regasification capacity at Klaipeda terminal

PGNiG secures long-term regasification capacity at Klaipeda terminal

Poland’s oil and gas company PGNiG has secured a regasification capacity at the Lithuanian liquified natural gas (LNG) terminal, to import over 0.5 billion cubic metres (or 6 terawatt-hours, TWh) of natural gas per year for 10 years.

“LNG plays a fundamental role in the supply diversification strategy of both Poland and Lithuania,” said Iwona Waksmundzka-Olejniczak, CEO of PGNiG. “Having secured the long-term reservation of regasification capacity at the terminal in Klaipeda, PGNiG will be able to use its expertise in LNG trading to strengthen the availability of gas for customers in both countries. I am convinced that the cooperation between Klaipedos Nafta and PGNiG will not only contribute to the business plans of both companies but will also enable further integration of gas markets in this part of Europe.”

“We are glad that PGNiG has successfully started using the LNG terminal in Klaipėda earlier this year and expressed their interest in the long-term commitment,” added Darius Šilenskis, KN CEO. “Allocation of the long-term capacity extends our future cooperation and will further contribute to the enhanced energy security of the region and efficient utilisation of the infrastructure in Klaipėda”.”

PGNiG started to use Klaipeda LNG Terminal earlier this year. The first LNG cargo ordered by the PGNiG Group was delivered to the Lithuanian FSRU in May. Since then, PGNiG has received 6 deliveries at the facility. After regasification, part of the cargo was sold to customers from the Baltic States, while the rest was transported to the Polish market via the Gas Interconnection Poland–Lithuania, which was also launched in May 2022.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular