27.06.2016 PGNiG takes first delivery of LNG under spot contract
The first LNG shipment bought on the spot market was delivered to the President Lech Kaczyński LNG Terminal on June 25th 2016. Approximately 140,000 cubic metres of LNG (equivalent to 84 mcm of grid gas) was supplied from the Norwegian port of Melkøya by the Arctic Princess vessel. The delivery from Statoil is the effect of proceedings carried out by the PGNiG Group in May.
The Group plans to purchase LNG on a spot basis in addition to regular deliveries under its long-term contract with Qatargas. LNG spot deliveries are a way to further diversify the gas supply sources, and facilitate effective optimisation of the Group’s procurement portfolio. The Company monitors the LNG market on an ongoing basis. Any decisions to purchase LNG will be preceded by an analysis of the requirements and the gas price at a given time.
The gas supplied as part of the first commercial spot delivery was produced at the LNG plant on the Norwegian island of Melkøya, situated beyond the Arctic Cycle, being the only unit in Europe to produce LNG on such a scale. It is the first time LNG is delivered to the terminal in Świnoujście by a conventional vessel with distinctive spherical tanks. Despite the lower capacity of its tanks, the ship is not much smaller than the Q-flex vessel that previously delivered gas from Quatar. Arctic Princess is 288 metres in length and 49 metres in width.
