Polish Oil and Gas Company (PGNiG) has entered ticketing service contracts with 11 energy companies that import natural gas to the country.
As per the law, it is mandatory for natural gas importers to keep stipulated stocks in storage facilities located in Poland or other countries that are signatories to the agreement on the European Economic Area.
Having reached the contracts, the companies need not arrange the storage of mandatory stocks of natural gas on their own.
On behalf of other companies, PGNiG maintains gas stocks totalling around 370, 000MWh.
PGNiG trade management board vice-president Maciej Woźniak said: “PGNiG keeps the mandatory stocks of natural gas because of its own imports, but it also owns the commercial stocks. Based on the injected commercial stocks we have offered the ticketing service under competitive conditions.
“In essence, this means that we make some of the gas we own already injected in the storage facility available to the importers, providing them with comprehensive services in terms of gas stock management and logistics.
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By GlobalData“As a result, our counterparties do not have to go through the complicated logistic process, and are able to focus on their core business instead.”
The decision to release the mandatory stock rests with the Minister of Energy.
During the time of disruption, mandatory stocks will supply natural gas to the system in order to ensure uninterrupted supplies to industrial and household users.
