Poland’s state-run gas company PGNiG signed the 24-year contract to buy liquefied natural gas from the United States as part of efforts to reduce the country’s dependence on Russian fuel. The President of Poland Andrzej Duda present at the signing said that Poland was interested in diversifying its gas supplies and that talks about the contract began when US President Donald Trump visited Poland last year. Under the latest deal, Poland expects to import 29.5 million tonnes, or nearly 40 billion cubic metres, of American LNG over 24 years.

"The agreed conditions, including the competitive price, are fully satisfactory for PGNiG. Thanks to this agreement we will have regular supplies of LNG from the USA starting as early as 2019," PGNiG CEO Piotr Wozniak said in a statement. "The share of LNG in our import portfolio is constantly increasing. The world's liquefied natural gas market is rapidly growing and allows us to select the best offers in this area."

PGNiG did not say how much the contract was valued at.

The company said Cheniere would deliver 0.52 million mt of LNG, approximately 0.7 Bcm of gas after regasification, during 2019-2022.

Subsequently, in 2023-2042, total imports from Cheniere would reach 29 million mt of LNG, or 39 Bcm of gas, which amounts to about 1.45 million mt of LNG or 1.95 Bcm of gas annually, PGNiG said.