Qatar will sell gas contracted to Poland on other markets

WSE-listed Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) and Qatar Liquefied Gas Company have signed an agreement, in which it says that the Qataris will sell gas that was previously contracted to Poland, on other markets in H1 2016. Since the liquefied gas terminal in  Świnoujście isn't yet fully operational, PGNiG had to sign an amendment to a long-term deal with Qatar Gas not to pay for unused gas. PGNiG, however, will have to cover for the possible price difference between the market price and the price set in the long-term contract. Świnoujście LNG terminal is a liquefied natural gas import terminal, which features an unloading jetty for large LNG tankers, two storage tanks and a regasification train. The terminal's initial regasification capacity will be 5 billion cubic meters per annum. The project is worth PLN 3.5 billion and is Poland's flagship investment aimed at diversifying gas supplies, reducing a dependence on Russia. On October 12, the terminal was opened, but the first cargo ship will arrive at the end of November or early December.