Poland signs 24-year deal for US gas

The US Secretary of Energy Rick Perry. Photo: PAP/Radek Pietruszka

Polish gas monopolist PGNiG has signed a 24-year liquefied natural gas (LNG) supply contract with the US Cheniere Marketing International, the Polish company announced in a Thursday statement.

US Secretary of Energy to visit Poland next week

The US Secretary of Energy Rick Perry is scheduled to visit Poland, Ukraine and the Czech Republic in the upcoming week.

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The contract will be valid from 2019 to 2042. The supplies will be delivered to Poland's new LNG terminal in Świnoujście, northwestern Poland.

The US Secretary of Energy Rick Perry, who is visiting Eastern Europe and arrived in Warsaw on Thursday, expressed his pride for being a partner of Poland, referring to the contract concluded between PGNiG and Cheniere Marketing International.

“This wonderful partnership is a signal for Europe, that energy safety in Europe can be developed in that direction. I would like to bow my head to your understanding of how important diversification is. In the US we’re lucky to deliver that energy, it’s all thanks to our technology, innovative methods and the accessible resources,” Mr Perry said.

Rick Perry’s visit will be a continuation of talks that took place at the Bucharest summit of the Three Seas Initiative in September, when the Secretary of Energy announced close cooperation with the Three Seas countries in order to diversify the energy sources of these countries and to become independent from Russia.

Future ventures

The head of PGNiG, Piotr Woźniak, stated that the company plans to sign another two agreements on LNG supplies.

"We are going to sign contracts on LNG supplies with the US companies, because they all have one common feature: they will be 20-30 percent cheaper than the gas from Russia,” he said.