PGNiG reaches settlement in Qatari LNG deal

Poland’s natural gas distributor PGNiG said that is has reached a settlement with Qatargas regarding the conditions of a contract signed in 2009. The contract originally stipulated for LNG deliveries from Qatar to start in the beginning of 2015. However, Poland’s LNG terminal in Świnoujście is delayed and will not be ready until the end of the first half of the year. According to the settlement, Qatargas will market the LNG meant to be sold to Poland in 2015 on other markets. PGNiG will cover the price difference, if necessary. The PGNiG-Qatargas contract regulates the supply of 1.5 billion cubic meters of LNG to Poland annually.