Polskie Grnictwo Naftowe i Gazownictwo SA: First shipment of liquefied natural gas delivered by tanker chartered by PGNiG

The tanker “Maran Gas Apollonia” with a cargo of more than 65,000 tons of liquefied natural gas has arrived at the LNG terminal president Lech Kaczyński in Świnoujście. This is the first delivery made on a vessel chartered by the PGNiG group. This is also the first shipment that PGNiG has received from Venture Global LNG, which will soon be a major supplier to Poland.

This is the first time that the LNG cargo has been delivered by a vessel chartered by the PGNiG Group, opening a new chapter in the Group’s operations in the global LNG market. So far, we have only purchased LNG shipments with assured transport. Now we can also buy gas directly from liquefaction terminals under free on board contracts. This definitely expands our possibilities for securing liquefied natural gas volumes,”underlined Iwona Waksmundzka-Olejniczak, President of the Management Board of PGNiG SA.The last year in the European gas market has clearly demonstrated the importance of access to diversified and reliable gas sources. LNG provides such access, hence the enormous growing interest in liquefied natural gas among European companies. By acting in advance, PGNiG has firmly established itself in the LNG market, so we can now effectively use our skills and capabilities to enhance the energy security of our customers.“, she added.

The tanker “Maran Gas Apolonia” brought more than 65,000 tons of LNG, which corresponds to more than 90 million cubic meters of natural gas after regasification. The cargo was loaded at Calcasieu Pass Liquefaction Terminal in Louisiana, owned by Venture Global. From next year, PGNiG will start receiving 1.5 million tonnes of LNG per year (2 bcm of natural gas, after regasification) from the Calcasieu Pass terminal under a long-term contract. PGNiG also has a long-term agreement with Venture Global to receive 4 million tonnes per year (approximately 5.3 bcm of natural gas, after regasification) from the Plaquemines liquefaction terminal in Louisiana.

“Venture Global is proud to celebrate this historic milestone with our most important partner and customer, PGNiG,” said Mike Sabel, CEO of Venture Global LNG. “Poland’s foresight and proactive strategic planning for its energy security needs put it in a strong position today. Our company is proud that, under long-term agreements with PGNiG, we will soon be supplying LNG, which will help meet a significant part of Poland’s gas demand. These long-term FOB contracts will make PGNiG not only a consumer but also a regional leader in LNG supply and trading,” Mr. Sabel added.

The two long-term contracts with Venture Global are based on the FOB formula. In order to receive the gas purchased under these contracts, PGNiG has started to develop its own fleet of LNG carriers. The Group has chartered eight units, each with a capacity of 174,000 tons of liquefied natural gas, which will be built exclusively for the PGNiG Group. The first two tankers will enter service next year, the next two – in 2024, and the remaining four – in 2025.

Due to the recent intensification of LNG imports by PGNiG, the Group has decided to charter three vessels as of this year, including two in the first half of 2022. One of them is “Maran Gas Apollonia”, whose owner is Maran Gas Maritime, a company owned by the Angelicoussis Group. Maran Gas Maritime will also own two of the eight LNG carriers under construction for the PGNiG Group.

“Maran Gas is truly honored to be PGNiG’s maritime partner in this major milestone. This ‘first’ comes shortly after PGNiG and Maran Gas entered into long-term charter contracts for 2 LNG carriers to support the Poland’s efforts to diversify and strengthen its LNG supply chain Faced with the acceleration in the growth of trade, in a world much more fragmented than a few months ago and with growing environmental challenges, such a partnership between two strong European companies is more topical than ever”, Sveinung JS Stohle, Deputy Managing Director of the Angelicoussis Group. “Maran Gas’ mission is to provide world-class shipping services to its customers in a safe, reliable and sustainable manner while embracing the energy transition. We do this with integrity, focusing on the efficient and timely delivery of shipments in line with our customers’ expectations. Last but not least, at Maran Gas, we take a long-term view of our relationships, our people and our vessels. We are therefore very pleased to be a key transportation supplier for PGNiG’s long-term LNG supplies to the Polish market,” he added.

The LNG delivered by “Maran Gas Apollonia” is already the 17th LNG delivery received by PGNiG in Świnoujście in 2022 and the 165th since the start of the terminal’s operation. After the recent development, starting this year, the Świnoujście terminal has a regasification capacity of 6.2 Gm3 of gas per year, compared to 5 Gm3 previously. Thanks to new investments, the terminal’s regasification capacity will increase to 8.3 bcm of gas per year in 2024. PGNiG has reserved 100% of the facility’s regasification capacity.

On May 6, PGNiG Group took delivery of the first LNG shipment outside Poland, which was delivered to the LNG terminal in Klaipeda, Lithuania. Most of the gas delivered there was routed to Poland via the recently opened Poland-Lithuania gas pipeline, and some was offered to the market in the Baltic states.

About PGNiG Group

The PGNiG group is the leader of the Polish gas market. It operates in the exploration and production of natural gas and crude oil, international gas trading, the sale and distribution of gas and liquid fuels, as well as the production of heat and electricity. The PGNiG group consists of more than 30 companies with a total of 25,000 employees. It operates, among others, in Poland, Lithuania, Norway, Pakistan and the United Arab Emirates. The parent company of the Group, PGNiG SA, is one of the largest companies listed on the Warsaw Stock Exchange.

About Venture Global LNG
Venture Global is a long-term, low-cost supplier of US LNG from resource-rich North American natural gas basins. Venture Global’s first facility, Calcasieu Pass, began producing LNG in January 2022. The company is also building or expanding an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.

About the Angelicoussis Group
Founded in 1947, the Angelicoussis Group has grown to become one of the largest private shipowners in the world. The Group owns 163 vessels in the LNG, tanker and dry bulk sectors, 13 of which are under construction. As a private company focused on shipping, we keep a large portion of our profits within the company. The strength of its balance sheet allows the group to weather economic cycles and provides flexibility to deploy capital when opportunities arise. Maran Gas Maritime was founded in 2003 as the gas vessel management business unit of the Angelicoussis Group, performing all technical, operational and commercial management functions in-house. Over the past 19 years, Maran Gas Maritime has accumulated a wealth of experience which has enabled the company to offer cutting-edge services and grow through long-term partnerships with leading industry players. .

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