PGNiG: Allocation of regasification capacity under the Open Season ‘Świnoujście LNG Terminal Availability Procedure 2020’

The Management Board of Polskie Górnictwo Naftowe i Gazownictwo S.A. (“PGNiG”, the “Company”) announces that on May 22nd 2020 Polskie LNG S.A. (“Polskie LNG”), the operator of the LNG terminal in Świnoujście, acting under the Open Season ‘Świnoujście LNG Terminal Availability Procedure 2020’ (the “Open Season Procedure”), allocated capacities with respect to primary and transitional LNG regasification services as well as additional services, including loading of LNG to tankers, bunkering of LNG-powered vessels, and handling services between ships.
As a result of the Open Season Procedure, upon execution of a regasification agreement (the “Agreement”) with Polskie LNG, the LNG regasification capacity reserved by PGNiG will increase from 5 bcm currently to approximately 6.2 bcm as of 2022 following the launch of the transitional regasification service, and to approximately 8.3 bcm as of 2024 following the launch of the primary regasification service. The reservation of increased regasification capacity at the LNG terminal will enable the Company to achieve its strategic objectives related to gas supply diversification and national energy security.
The term of the Agreement will be 17 years. The services specified in the Agreement will be billed at tariff rates applicable during its term and approved by the President of the Energy Regulatory Authority.
The reservation of additional regasification capacity with the LNG Terminal is in line with the current PGNiG Group Strategy for 2017–2022 (with an outlook until 2026), as announced in Current Report No. 19/2017 of March 13th 2017.