Poland signs 20-year deal on U.S. LNG supplies

Well, it turns out that the Poles are eager to do business with the USA and import fresh LNG supplies instead of buying gas by pipeline from Russia.  

The agreement defines basic terms and conditions of the contract which equals about 2.7 bcm following regasification. neftegaz.ru U.S.-based Venture Global LNG signed a 20-year deal for the delivery of 2 mtpa of liquefied natural gas from its Calcasieu Pass and Plaquemines LNG facilities to Polish Oil & Gas Company (PGNiG).

Note also that, in the same vein, Qatar intends to supply gas directly to Ukraine.  I had previously predicted both these developments here on Oilprice.com.  It is the border States to Russia that are most concerned about being swallowed up by Putin's visions of a New Russian Empire. Thus the disentangle themselves from contracts with Russia, shut down their economic links, and create new ones with the United States - the one country with the raw power to ensure their freedom. 

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(edited)

As a hedge I see LNG, but I don't see how it can compete with piped gas when available. US, or Qatar, or whomever.

Being highly dependent on Russian gas is a two way straight, Russia becomes/is highly dependent on the coin. When interests are best served by making money, war tends to not happen as much. I suspect Putin wouldn't have fared much better than his predecessors, but he took power as oil prices drastically increased. So he had something the previous folks didn't have, money.

The Russians would do far better treating eastern European countries do as wealth makers. One advantage of relatively small western militaries is the Russians can't be threatened by them. The Russians historically view eastern European countries as buffer states. The invasions have come from the West, not the East. Small comfort if you are a Eastern European country who get slammed both way.

I am no fan of Russia, I'm appalled by the lack of response with Russia appropriating pieces of Georgia. I bet the Ukraine wish they kept their nukes, but the time they were friends of Russia, not the West, and it's unfortunately the pro-western government was truly corrupt. But Russians aren't the strong military we think they are. If the US is willing to, it can spank them back. But of course any direct confrontation risks escalations that could end us all. 

 

Edited by John Foote
mispelleings

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Someone will have to correct me if I am wrong, but it sure seems to me like Poland is one of America's best allies, and yet America seems to ignore them most of the time.  It makes me feel kind of bad for the Poles.  They sure seem like great people over there.  

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1 hour ago, Epic said:

Someone will have to correct me if I am wrong, but it sure seems to me like Poland is one of America's best allies, and yet America seems to ignore them most of the time.  It makes me feel kind of bad for the Poles.  They sure seem like great people over there.  

My sentiments exactly, Epic.  Donald made a lot of waves some months back when he threatened to close bases in Germany and move them to Poland.  Or expand existing Poland bases ( I don't recall the details).  The Poles were even offering great cost sharing and savings and, most importantly, a great desire to welcome the U.S. with open arms and show appreciation that played right into Trump's ego.  Haven't heard much since those days, but let's hope the U.S. is doing things to increase our partnership with Poland.

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