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Poland ordered so much LNG that the "Baltic pipeline" was not needed

Mazavr Blog 29.06.2020 at 03:42

Patriotic news resource

2023 Poland contracted LNG so that its volume will cover 81% of the current gas import in the country. And even in the case of a complete rejection of purchases in Russia and in Europe has not yet built the "Baltic pipeline" from Norway with a capacity of 10 billion cubic meters will have a total of about 3 billion cubic meters. To avoid significant losses of the Polish state-owned PGNiG, obviously, will fail, if not all of the American projects will launch and Warsaw will be able to persuade the neighbouring countries to buy their expensive liquefied natural gas from the United States.

the Most gas Poland will receive from the United States. On the eve of the visit of the Polish President to the United States said on air of the Polish radio, the President of PGNiG Jerzy Kwiecinski.

"today we can say that in the future, most supply to Poland of gas we will receive from the American continent," — said the head of the Polish state-owned companies. He said that signed long-term contracts with three companies. At full power, the documents will be operational from 2023, when the contract for the supply of Russian gas. So, Cheniere Energy Polish state-owned company pledged to buy of 1.95 billion cubic meters annually, at the Sempra Group, only 2.7 billion, while Venture Global LNG 4.73 billion More PGNiG will remain a valid contract with Qatargas to supply 2.7 billion cubic meters per year. If the Qatari contract will be completed in 2034, the us in 2042.

as a result, In 2023, Poland will receive 12 billion cubic meters of LNG. 81% of all gas imports into the country. After three years, must earn the "Baltic pipeline" from Norway. But this case is only about 3 billion cubic meters per year. So, the Polish company plans to produce in Norway in three years, however, the booked capacity of the pipeline is 8 billion cubic meters.

Meanwhile, gas consumption in Poland is growing exponentially, and playing up to Washington and furious diversification of supply sources can dearly cost Warsaw. Today gas prices on the stock exchanges of Europe and most of Poland even lower than the one of the cost of liquefying gas in the US ($ 50-70 vs $ 70-105). The Norwegian production cost is only slightly cheaper than LNG. Now the volume of deliveries of liquefied gas from the USA is small and they get lost in the flow of imports, which delivers Russian gas. However, in 2023 the situation will change.

Then the question arises about the possible expansion of German companies onto the Polish market. In the context of liberalization it will be easier to compete with Polish companies trading Russian gas. Therefore, it is obvious a fierce determination Warsaw at any cost to stop the "Nord stream — 2" or make it too costly for Russia and European partners "Gazprom".

More than half of LNG from the US Polish companies have to take itself without a clear point of delivery, which gives her room to maneuver. However, obviously, PGNiG expect still to neighboring countries. On the one hand, the contracted LNG volumes will completely cover the stationary power expanding the LNG terminal in świnoujście and the future of the floating terminal in Gdansk. They should reach 11.5 billion cubic meters per year. While in storage Poland may not hold more than 3.5 billion cubic meters. On the other hand, for example, Ukraine signed a trilateral Memorandum on the supply of LNG from the United States, and under direct procurement in Poland does not have available capacity.

However, the same Ukraine has already demonstrated its "resolve" to import American LNG. For all time in the country has bought only two small shipments of liquefied natural gas. And that is made by a private company ERU Trading, which is owned by Americans. The trader was able to declare loudly about the deal, however, his briefcase an expensive American gas dissolved in large volumes of cheaper fuel from other sources.

Who can reduce risks Polish called obligations, that the Americans, whose oil and gas industry was not ready for a drastic fall in the price of raw materials. Thus, the company Sempra Energy, which plans to provide Poland with 2.7 billion cubic meters a year with more unbuilt LNG plant in Port Arthur, has postponed a final decision on the project until 2021. Meanwhile, Venture Global LNG (4.73 billion) started construction of the Calcasieu Pass LNG, but have not yet started Plaquemines LNG.