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Polish-Qatari LNG gas contract to change hands?

PR dla Zagranicy
Peter Gentle 29.09.2014 10:29
Qatargas is reportedly in advanced talks to sell its contract for LNG supplies to Poland.

photo - CC

Qatari natural gas supplier Qatargas is in advanced talks to sell the rights to its contract with Poland's gas giant PGNiG for LNG supplies through the terminal in Świnoujście, according to sources quoted by the daily Dziennik Gazeta Prawna.

Sources claim that the buyer is investment bank Merril Lynch, meaning that it would be more difficult for Poland to renegotiate the contract.

Both PGNiG and Qatargas declined to comment on the possible sale. Merril Lynch and Poland's Ministry of Economy did not answer.

“We are constantly in touch with the Qatari side. However, we cannot provide further details,” PGNiG's press office replied to the newspaper's query.

“Our policy forbids the disclosure of any information on orders,” Mariana Diaz Castro from the PR department of Qatargas meanwhile said.

PGNiG signed the contract with Qatargas six years ago. It stipulates for the delivery of 1.5 billion cubic metres of LNG over 20 years through the terminal in Świnoujście. The contract price is seen as high an the Polish partner has many times declared it would like to renegotiate it.

The LNG terminal in Świnoujście was originally supposed to be completed by mid 2014. Recent statements claim it will be ready at the turn of 2015. The consortium responsible for its construction, led by Italian Saipem, recently declared that the facility is 92.9 percent complete.

The terminal was recently subject to successful tensile testing. Engineers pumped 100 million litres of seawater into one of the tanks to see if the material was strong enough. It proved to be in line with relevant standards. (kw)

tags: LNG
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