PGNiG Supply & Trading has concluded a charter agreement for two liquefied natural gas tankers. The vessels will be purpose-built for the PGNiG Group and will enter service in the first half of 2024.
PGNiG Supply & Trading (PST) of the PGNiG Group and Knutsen OAS Shipping have signed a charter agreement for two LNG carriers. Each of the vessels will have a capacity of about 174,000 cubic m. PST will be their exclusive user for 10 years with the possibility of extension.
We are consistently developing PGNiG’s position on the international LNG market. Chartering the tankers is an important step for the implementation of our plans in this area. This is the optimal solution, providing certainty and flexibility of logistical operations, which are an important element in building a competitive advantage – said Paweł Majewski, CEO of PGNiG SA.
The gas carriers, which are the subject of the contract just signed, are yet to be built. The planned date of delivery of the ships is 2024. These are the next tankers chartered by PST. The charter contract for the first two was concluded in 2020, also with Knutsen OAS Shipping. Both contracts stipulate that the shipowner will be responsible for delivering the vessels, manning them and maintaining them in proper technical condition. On the side of PST will be the commercial control over the vessels.
PGNiG Group wants to use the chartered gas carriers to service free-on-board (FOB) contracts concluded with US companies. The FOB formula provides that it is the buyer of the cargo that is responsible for receiving it at the liquefying terminal, but it may freely decide where to direct the purchased fuel.
All four gas carriers chartered by PST will be vessels with a capacity of 174,000 cubic metres, which gives the possibility of loading approximately 70,000 tonnes of liquefied natural gas. This means that each tanker will be able to transport a fuel load equivalent to approximately 100 million cubic metres of natural gas in its gaseous state.