Poland's PGNiG in talks on short- to mid-term LNG contracts

WSE-listed, state-owned gas giant PGNiG plans to sign short and mid-term contracts for LNG by mid-2018, company’s Deputy CEO Maciej Woźniak told Reuters. “For a few month, we have been in talks with our partners on further LNG supplies to Poland. Of course, we are talking not only to the US contractors,” Woźniak said. Currently, Poland has one regular LNG supply, a 2.9 bcm per year contract with Qatargas which will run until 2034. The company is currently looking for 2-7 year-long deals and is also planning to increase its activity on the spot market, where it recently purchased the first in the CEE region delivery for the US LNG. PGNiG plans to sign one or two such deals this year, according to Woźniak. “We see more and more clearly that when it comes to LNG we are dealing with a buyer's market. According to forecasts this could last until 2020 and we want to benefit from it,” he added. The company also plans to increase its exports, doubling its output to Ukraine this year, and looking for other buyers in the region.