: Reuters: Poland aims to end long-term gas supplies from Russia after 2022

13:26 Jun. 1, 2016

Reuters: Poland aims to end long-term gas supplies from Russia after 2022

A visitor walks past the OAO Gazprom logo on display at the St Petersburg International Economic Forum (SPIEF), in St Petersburg, Russia, on Thursday, June 16, 2011. (Getty Images)

Polish authorities plan to reduce country's dependence on Russian gas  

Poland does not plan to renew a long-term gas supply contract with Russia when its current deal with Gazprom (GAZP.MM) expires in 2022, a government official responsible for gas and power infrastructure told Reuters on Monday.

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Polish state-run gas firm PGNiG PGN.WA buys up to 10.2 bcm of gas a year from Russian gas giant Gazprom, accounting for the bulk of Poland's annual consumption of nearly 15 bcm. The contract, signed in 1996, expires in 2022.

To reduce its reliance on Russian gas, Poland has built its first liquefied natural gas (LNG) terminal and plans to build a pipeline to the North Sea.

"We will be aiming at a situation where a long-term contract becomes a thing of the past. If the price of Russian gas is competitive enough we do not rule out buying it, but definitely not as part of a long-term contract," government energy official Piotr Naimski told the Reuters Eastern Europe Investment Summit at Reuters' office in Warsaw.

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He said that thanks to the LNG terminal Poland will be able to import up to 5 bcm of gas annually. So far, one long-term contract has been agreed for the terminal - for Qatargas QGTS.QA to supply PGNiG with 1.5 bcm annually.

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