ORLEN and Naftogaz Signed New Gas Supply Agreement

SEATTLE (Oil Monster): Polish energy major ORLEN and Ukraine’s state-owned Naftogaz reiterated their partnership by signing a third gas supply agreement. Under the terms of the new agreement, ORLEN will deliver an additional 100 million cubic meters (mcm) of natural gas to Ukraine. With this, the total contracted volume under the ongoing partnership now stands at 300 mcm.

The deal states that LNG will be imported by ORLEN from the United States. The Swinoujscie terminal on the Baltic Sea Coast will regasify the imported LNG. This gas will then be sent to the Ukrainian border via the nation's vast transmission network.

In March of this year, ORLEN and Naftogaz signed a statement of intent about gas shipments to Ukraine. Three contracts totaling 300 mcm of supply have since been finalized.

The deal emphasizes even more how important ORLEN is as a major natural gas provider in the area and how vital it is to Ukraine's energy security in the face of persistent geopolitical challenges. Robert Soszynski, vice president of the business's Management Board of Operations, stated that the company is still dedicated to helping Ukraine by guaranteeing access to reliable and varied gas sources.