Naftogaz and ORLEN agree on supply of 100 mcm of LNG as part of broad cooperation in this area
Naftogaz Group and the Polish oil concern ORLEN signed a memorandum of long-term cooperation in the field of liquefied natural gas (LNG), within the framework of which they concluded a contract for the supply of 100 million cubic meters of this fuel.
"Within the framework of the memorandum of cooperation, Naftogaz and ORLEN have signed a contract for the supply of 100 million cubic meters of gas. The gas will come from a batch of liquefied natural gas that will be delivered to the terminal in Klaipeda (Lithuania). The gas will then be transported via the GIPL gas pipeline connecting Lithuania and Poland, and then through Polish territory to the interconnector on the Ukrainian border in Drozdovychi, where Naftogaz will receive it," Naftogaz Group's website said on Friday.
As for the memorandum as a whole, which was signed by Head of Naftogaz Group Roman Chumak and Vice President of ORLEN Robert Soszyński, according to the report, it initiates long-term strategic cooperation between the companies and will allow Ukraine to create a more diversified gas supply system.
"Ukraine has a powerful gas transportation system and the largest underground gas storage facilities in Europe, which creates unique opportunities for the development of the LNG market. Cooperation with ORLEN opens up prospects for strengthening energy security, diversifying supplies and integrating Ukraine into the European gas market," Chumak emphasized.
According to Robert Soszyński, the memorandum between ORLEN and Naftogaz is the basis for long-term and mutually beneficial cooperation in the important area of energy resource supply.
"Our relations will be based on commercial terms, but securing an additional source of gas is vital for Ukraine also from the point of view of its security. It is thanks to diversification that ORLEN ensures stable gas supplies to Polish consumers and can be a reliable partner for foreign counterparties," he emphasized.