News
20.08.2019 Financial Close for Calcasieu Pass LNG project – statement by the PGNiG S.A. Management Board
The Management Board of PGNiG S.A. welcomed the announcement by Venture Global LNG of the financial close for the Calcasieu Pass LNG facility in Louisiana, US.
“We congratulate our partner Venture Global LNG on their successful closing of the project financing to construct and commission the Calcasieu Pass LNG facility. Under an agreement we signed in 2018, PGNiG is to receive 1 million tonnes of LNG annually from the facility starting from 2022, to be regasified into some 1.35 billion cubic metres of natural gas. For this reason, the financial close for the facility construction project is not only a breakthrough for our US partner, but also an important development for PGNiG from the point of view of our strategy to diversify natural gas imports,” said Piotr Woźniak, President of the Management Board of PGNiG S.A.
In October 2018 and June 2019, PGNiG and Venture Global companies signed long-term agreements for sale and purchase of liquefied natural gas from the Calcasieu Pass and Plaquemines facilities. The aggregate annual volume of LNG to be supplied under the agreements is 3.5 million tonnes, to be regasified into ca 4.7 billion cubic metres of natural gas.
“From among three gas liquefaction facilities in the US from which we have contracted LNG supplies on a FOB basis, Calcasieu Pass is the first to have entered the project implementation phase. Similar funding decisions are expected in the coming months also for the Plaquemines and Port Arthur LNG projects,” added Piotr Woźniak.
Venture Global LNG has already received all required permits for the Calcasieu Pass project, including FERC authorisation and Non-FTA export authorisation from the US Department of Energy.
