December 19, 2018 / 12:22 PM / 5 months ago

Poland's PGNiG finalises deal on LNG supplies from Texas

FILE PHOTO: Pressure gauges are seen at a shale gas fracking facility belonging to Poland's PGNiG near the village of Rybakowo, May 21, 2013. REUTERS/Peter Andrews/File Photo

WARSAW (Reuters) - Poland’s dominant gas firm PGNiG said on Wednesday that it had finalised a 20-year deal for deliveries of liquefied natural gas (LNG) from the United States to Poland’s terminal in the Baltic Sea.

PGNiG said that annual supplies of 2 million tonnes of LNG, which will be delivered free-on-board, will start no sooner than 2023 when the Port Arthur production facility in Texas will be completed.

The contract is the result of an agreement PGNiG signed with U.S. Port Arthur in June.

Poland has increased supplies of LNG in the past few years in order to reduce its reliance on Russian gas.

Poland consumes around 17 billion cubic meters (bcm) of gas annually and more than half of it comes from Russia’s Gazprom under a long-term deal which expires in 2022 and which Warsaw does not plan to extend.

Reporting by Agnieszka Barteczko; Editing by Elaine Hardcastle

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