Orlen terminates major Qatari LNG contract

Orlen has terminated one of its two long term liquefied natural gas contracts with QatarEnergy after supply disruptions, Money.pl reported Wednesday. The agreement covered one million metric tons of LNG annually, equivalent to approximately 15.3 terawatt hours. Orlen exercised its termination right on November 10, citing continuing force majeure. The contract was scheduled to run until 2034 and remains effective for another 60 days after notice.

The agreement, originally signed in 2009, was linked to oil prices and had an estimated 2026 value of approximately EUR 570 million. Orlen retains a QatarEnergy contract covering up to one million tons annually, linked to gas prices. The company said its own production and other supply agreements adequately cover demand. It has relied on cargoes from the United States and Norway as disruptions in the Persian Gulf have constrained Qatari exports.

(money.pl)