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Poland's PGNiG signs long-term LNG deal with U.S. energy firm Cheniere

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U.S. Energy Secretary Rick Perry said the agreement contributed to making Poland more secure and diversifying its energy supply
U.S. Energy Secretary Rick Perry said the agreement contributed to making Poland more secure and diversifying its energy supplyTVN24 International
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Polish state-run gas firm PGNiG signed a long-term deal with U.S. energy firm Cheniere to secure liquefied natural gas (LNG) supplies from the United States on Thursday as Poland seeks to cut dependence on Russian fuel.

Poland consumes around 17 billion cubic metres of gas annually, more than half of which comes from Russia's Gazprom under a long-term deal that expires in 2022.

PGNiG has previously said it does not intend to extend the agreement, and has taken steps to secure supplies elsewhere after that date.

Under the terms of the new deal PGNiG will receive a total of 0.52 million tonnes of LNG in the period 2019-2022 and 29 million tonnes in 2023-2042, to be delivered to an LNG terminal in the Baltic Sea, the company said.

The chair of PGNiG's board, who co-signed the agreement with a Cheniere executive, said the price for gas in the new deal would be 20 to 30 percent cheaper than in the one with Gazprom.

U.S. Energy Secretary Rick Perry, who witnessed the signing of the agreement with Polish President Andrzej Duda, said the agreement contributed to making Poland more secure and diversifying its energy supply.

Poland also plans to build a gas pipeline to Norway via the Baltic Sea and Denmark to allow it to receive up to 10 bcm of gas annually from deposits under the North Sea.

Polish officials have repeatedly said that Warsaw pays too much for Gazprom's gas and have opposed a Russian plan to build a new gas pipeline across the Baltic Sea, saying it is aimed at strengthening its dominant market position in the region.

Autor: gf / Źródło: TVN24 International, Reuters

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