PGNiG: Notice of issuance of final investment decision for Plaquemines terminal to be built by Venture Global LNG

Further to Current Reports No. 36/2021, No. 32/2021, No. 25/2019 and No. 50/2018, the Management Board of Polskie Górnictwo Naftowe i Gazownictwo S.A. (“PGNiG”, the “Company”) announces that on May 25th 2022 the Company received a notification from Venture Global Plaquemines LNG, LLC that a Final Investment Decision (FID) has been made with regard to the Plaquemines liquefied terminal.

Commercial deliveries of LNG under the long-term contract of September 28th 2018, as amended, signed by PGNiG with Venture Global Plaquemines LNG, LLC (the “Contract”), from the Plaquemines terminal are expected to begin in 2026. The volume of LNG to be supplied under the Contract will be 4 million tonnes of LNG, or approximately 5.4 bcm of regasified natural gas, annually. The deliveries will be made for 20 years.

The combined volume of LNG deliveries from Venture Global Plaquemines LNG, LLC and Venture Global Calcasieu Pass, LLC will reach 5.5 million tonnes of LNG per year, equivalent to a total volume of approximately 7.4 bcm of regasified natural gas. The deliveries will be made on a free-on-board basis.