28.06.2016 PGNiG to set up LNG trading office in London
“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 Świnoujście. Thus, PGNiG SA has become a player of the global LNG market. We want to fully leverage the resulting opportunities,” said Piotr Woźniak, President of PGNiG SA.
The office is to open for business in January 2017 and will reach its full operational capacity by the end of Q1 2017.
“We will be buying LNG at competitive prices for our own needs, but will also start trading it on global markets. That is why we are opening an office in London, the gas trading hub for Europe,” commented Maciej Woźniak, Vice-President for Trade.
From the operational side, the project is being run by PGNiG Supply and Trading GmbH, a Germany-based subsidiary of PGNiG SA. The company has already obtained the necessary licences and permits to trade gas in the UK.
Initially, the office staff will comprise several specialists of the PGNiG Group and externally recruited experts. As the business expands, more staff will be employed. The office will focus on short-term and medium-term LNG trading. Any strategic decisions concerning the LNG portfolio and management of long-term contracts will rest with PGNiG SA.
PGNiG SA Communications Department
