PGNIG opens LNG trading office

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Energy independence is a key factor for every country to thrive. Those countries which are not energy independent face many issues. Naturally, this kind of situation is not beneficial for many. It stops economy growth and makes country unstable. Sadly, even pretty well developed countries and nations may face this fact. Poland is one of them and as an example one could describe such unconvenient matter.

Poland has been contracting gas deliveries from Russia for many, many years. Price Poles pay for gas are far away from desirable. Concerns about gas deliveries regularity and negotiating good deals for gas deliveries with Russians have happened repeatedley. Necessarily, this pressure from the East encountered polish reluctance. Both LNG Terminal in Swinoujscie and Baltic Pipe form a vital defence and reaction to Nord Stream 2.

Although gas price for LNG from Qatar to Poland are not particularly cheap it is still good part of energy diversification. To become a real player on the market Poland needs to find the best solutions and contract gas deliveries. Another step in this situation is opening LNG trading office. As PGNIG (Polish Oil and Gas Company) has planned a new trading office is about to be open in London (precisely in January 2017).

“The President of PGNiG SA, Piotr Wozniak, said: “We are upholding our decision to open an LNG trading office in London. Currently, we have reserved 65% of the capacity of the LNG terminal in Swinoujscie [Poland]. Thus, PGNiG SA has become a player of the global LNG market. We want to fully leverage the resulting opportunities.”

The London office will focus its efforts on short-term and medium-term LNG trading. To start with, it will consist of both a number of specialists from the PGNiG Group, as well as external experts. Any strategic decisions regarding the management of long-term contracts and the LNG portfolio will be made by PGNiG SA. “

Hopefully, LNG trading office will become an important place with experts negotiating good deals for Poland and will ease connections with many potential suppliers.

Source:

lngindustry.com

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