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shipowner and operator. According to the
contract signed with Knutsen OAS Shipping
the chartering period for both vessels is 10
years with possibility of extension. As the
shipowner and operator the company will
be responsible, among others, for staffing
the vessels and taking care of their technical
condition throughout the term of the contract.
Currently, the volume of contracts for
US LNG in the PGNiG import portfolio
amounts to approx. 9.3 bcm annually after
regasification. About 7 bcm will come from
contracts concluded in the FOB trading
formula, according to which PGNiG is
responsible for loading LNG at the supplier’s
export facility, transport and unloading at the
destination port. For this reason the company
needs transportation capacity, but also gains
flexibility in managing LNG volumes. The
cargo may be sent to Poland or – if sold on the
market – to another LNG import terminal in
the world.
PBFX), a master limited partnership of which at increasing the competitive position of our PGNIG GROUP, November 03, 2020
PBF indirectly owns the general partner and entire refining portfolio.”
approximately 48% of the limited partner PBF ENERGY, October 29, 2020 Sempra Energy reports
interests as of quarter-end.
The company reported third quarter 2020 The PGNiG Group contracted third-quarter 2020 earnings
net loss of $397.8mn and net loss attributable
to PBF Energy Inc. of $417.2mn or $(3.49) ships for transporting US results
per share. This compares to net income of
$86.3mn, and net income attributable to LNG Sempra Energy today reported third-quarter
PBF Energy Inc. of $69.5mn or $0.57 per 2020 earnings of $351mn, or $1.21 per
share for the third quarter 2019. Non-cash Chartered gas carriers will be used for trading diluted share, compared to third-quarter 2019
special items included in the third quarter liquefied natural gas contracted by PGNiG earnings of $813mn, or $2.84 per diluted
2020 results, which decreased net income by with American suppliers. Two modern share. On an adjusted basis, the company’s
a net, after-tax charge of $73.2mn, or $0.62 tankers will enter service in 2023. Norwegian third-quarter 2020 earnings were $380mn, or
per share, consisted of a net tax expense on Knutsen OAS Shipping selected in the tender $1.31 per diluted share, compared to $425mn,
remeasurement of deferred tax assets and will be responsible for the delivery and or $1.50 per diluted share, in the third quarter
an impairment expense related to the PBFX servicing of vessels. of 2019. Sempra Energy’s earnings for the first
write-down of certain PBFX long-lived assets, The LNG carriers are two units with nine months of 2020 were $3.35bn, or $11.43
offset by a lower-of-cost-or-market (“LCM”) capacity of 174,000 cubic metres each, which per diluted share, compared with earnings of
inventory adjustment, change in fair value means the size of the cargo that each vessel $1.61bn, or $5.74 per diluted share, in the first
of the contingent consideration associated will be able to transport is approximately 100 nine months of 2019. Adjusted earnings for
with the earn-out provisions related to both mcm after regasification. Time of putting the first nine months of 2020 were $1.8bn, or
the Martinez acquisition and PBFX CPI these vessels into service will coincide with the $6.10 per diluted share, compared to $1.46bn,
acquisition, and a benefit related to the change commencement of operation of the Calcasieu or $5.23 per diluted share, in the first nine
in our Tax Receivable Agreement liability. Pass terminal. This is the first of two liquefied months of 2019.
Adjusted fully-converted net loss for the third natural gas exporting facilities built by the “We are excited to advance our leadership
quarter 2020, excluding special items, was American company Venture Global LNG, position in the most attractive markets
$346.6mn, or $(2.87) per share on a fully- which PGNiG has signed one of the long-term in North America – California, Texas,
exchanged, fully-diluted basis, as described contracts with. Mexico and the LNG export market – with
below, compared to adjusted fully-converted The tender procedure for the charter an unrelenting commitment to safety and
net income of $80.1mn or $0.66 per share, for service for the PGNiG Group was participated operational excellence. Our investments in
the third quarter 2019. by several companies. The proceedings were critical new energy infrastructure support
Tom Nimbley, PBF Energy’s chairman conducted by the PGNiG’s LNG trade office economic prosperity, community wellbeing
and CEO, said, “Today we announced in London, part of PGNiG Supply & Trading, and the energy transition,” said Jeffrey W.
the reconfiguration of our Delaware which is a competence centre for trading in Martin, chairman and CEO of Sempra Energy.
City and Paulsboro refineries. With this LNG for entire PGNiG Group. Experience “Our strategy of investing in a high-growth
reconfiguration, we will operate the most in the implementation of LNG transport, infrastructure platform supports long-term,
profitable components of our East Coast technical parameters of the vessels offered stable cash flows, attractive economic returns
refining system at lower cost. This is another and price competitiveness of the offers and improved earnings visibility.”
step in our broader strategic process aimed were taken into account when selecting the SEMPRA ENERGY, November 05, 2020

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