$900 million in losses? In 2022 Poland lost nearly $900 million. It's about a contract for gas collection from the Calcasieu Pass LNG terminal in the USA. This is with the current one course American currencies approximately PLN 3.6 billion. Data about LNG deliveries to Poland reported by the government's Energy Information Agency in accordance with American law.
PGNiG contract: In 2018 PGNiG concluded a contract for the supply of LNG from the USA to Poland. Then the local company authorities assured that this was the case gas agreement is beneficial for our country. – Contract conditions in the USA are very attractive – said the vice-president of PGNiG at the time, emphasizing that these were the first of their kind long-term LNG contracts with the USA in our part of Europe.
“Amazing” prices: According to the Energy Information Agency LNG export to Poland amounted to 3.417 billion m3 in 2022 and 3.746 billion m3 in 2023. “The prices Poland paid “compared to gas from one of the terminals compared to Italian, Chinese, Spanish, Dutch or British customers, they are astonishing,” writes the Wysokie Nadzienie portal.
Calcasieu Pass LNG Terminal: They pay special attention prices paid by Poland especially from the Calcasieu Pass terminal. Poland paid $35.77 per thousand cubic feet, and Italians and Chinese were already buying there at a price of $14.10. and $15.63 per thousand cubic feet. In turn, the French paid $24.48, the British – $25.70, the Dutch – $25.70. Other terminals had more favorable prices for Poland.
“Negotiators didn't understand the rules”: These prices were driven by action owner terminal, LNG Venture Global. She claimed that the terminal had not yet finished booting and in such a situation he is not bound by long-term contracts. “Probably our negotiators didn't understand the rules governing international contracts,” emphasizes the Wysokie Napień portal. PGNiG contract it did not contain provisions guaranteeing deliveries at preferential rates during the start-up period. Gas was sold so after prices spot.
See also: Read about the LNG terminal in Świnoujście in the text entitled “The LNG terminal in Świnoujście is still without the third tank. Work on the expansion is delayed.”
Sources: High voltage, money.pl.