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Luce Energy Signs Agreement with PGNG Regarding Gas and Oil - Under the terms of the MOA Luce Energy will supply one million tonnes per annum (“mtpa”) of liquefied natural gas and oil to Polski Gornictwo Naftowei Gazownictow under a 15 year long term agreement - LuceEnergy.com
Luce Energy Signs Agreement with PGNG Regarding Gas and Oil

 

PRZOOM - /newswire/ - Seef, Bahrain (Kingdom of Bahrain), 2011/06/30 - Under the terms of the MOA Luce Energy will supply one million tonnes per annum (“mtpa”) of liquefied natural gas and oil to Polski Gornictwo Naftowei Gazownictow under a 15 year long term agreement - LuceEnergy.com.

   
 
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Luce Energy and PGNG today jointly announced the signing of a Memmorandeum of Understanding for Luce Energy to supply Gas & Oil from Bahrain to Poland.

Under the terms of the MOA Luce Energy will supply one million tonnes per annum (“mtpa”) of liquefied natural gas and oil to Polski Gornictwo Naftowei Gazownictow under a 15 year long term agreement.

The oil & gas will be delivered into a new oil & gas receiving terminal in Poland and to start in 2012. The terminal will be capable of receiving the cargoes using the newly delivered classes of vessels. PGNG intends to use the oil & gas to supply mainly commercial power companies and users.

Hesham Al-Adsani, President & Director of Luce Energy said; “Our oil & gas has a key role to play in helping governments around the world improve the diversity of their energy supplies. Luce Energy is pleased with this exciting development which breaks new ground in reaching agreement to supply oil & gas to meet the growing demand for energy in Poland.”

Luce Energy is currently undergoing a major expansion program, where it is expanding its delivery of oil & gas as well as securing more resources and exploration rights. This agreement is a major step in this direction.

About Luce Energy

Luce Energy (luceenergy.com) was founded in 2007 and today is one of the leading privately held independent energy companies. Luce Energy, its subsidiaries and affiliated entities, engage in oil and gas exploration and production activities mainly in the Middle East region. In addition, Luce Energy is integrally involved in the start-up of major liquefied natural gas projects in Yemen.

 
 
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Agency / Source: Luce Energy

 
 

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Luce Energy Signs Agreement with PGNG Regarding Gas and Oil

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Contact: Mahmoud Al Alawi - LuceEnergy.com 
+943-16199044 press[.]luceenergy.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Luce Energy securities in any jurisdiction including any other companies listed or named in this release.

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