Economic security is national security… In July 2017 President Trump traveled to Poland to attend the Three Seas Initiative Summit, a gathering of countries bordering the Adriatic, Baltic and Black Sea (Poland, Austria, Croatia, Hungary, Czech Republic, Slovenia, Slovakia, Romania, Bulgaria, Lithuania, Estonia and Latvia).
The primary purpose of the visit was to discuss security initiatives including how to diminish Russian influence through a cooperative agreement over energy. President Trump took the SME’s, and delivered a speech in Warsaw, Poland:
[…] “President Duda and I have just come from an incredibly successful meeting with the leaders participating in the Three Seas Initiative. To the citizens of this great region, America is eager to expand our partnership with you. We welcome stronger ties of trade and commerce as you grow your economies. And we are committed to securing your access to alternate sources of energy, so Poland and its neighbors are never again held hostage to a single supplier of energy.”
Well, today a massive multi-billion energy contract for the United States sale and Poland purchase of Liquefied Natural Gas (LNG) was announced. While financial terms were not disclosed, the agreement is for the sale and purchase of approximately 2.7 billion cubic meters per year (after regasification) – enough natural gas to meet about 15 percent of Poland’s daily needs. The contract is for 20 years of purchases.
SAN DIEGO, Dec. 19, 2018 /PRNewswire/ — Port Arthur LNG, LLC, a subsidiary of Sempra Energy (NYSE: SRE), and the Polish Oil & Gas Company (PGNiG) today announced they have entered into a definitive 20-year sale-and-purchase agreement for liquefied natural gas (LNG) from the Port Arthur LNG liquefaction-export facility under development in Jefferson County, Texas.
Today’s announcement is an important milestone as Sempra Energy pursues its long-term goal of exporting 45 million tonnes per annum (Mtpa) of North American LNG.
“This agreement marks an important step toward Poland’s energy independence and security,” said U.S. Secretary of Energy Rick Perry. “As demonstrated with the launch of the Strategic Dialogue on Energy in Poland last month, the Trump Administration remains committed to increasing energy diversity, advancing energy security, strengthening national security, and creating a future of prosperity and opportunity in Poland and throughout the region.”
“This agreement with PGNiG represents an important expansion of our portfolio of contracts for LNG exports and major step forward in the development of our Port Arthur LNG project,” said Jeffrey W. Martin, chairman and CEO of Sempra Energy. “Last month, we began the commissioning phase of our Cameron LNG liquefaction-export facility in Louisiana. This agreement, along with the great progress on Cameron LNG, continue to validate our growth strategy as we advance our vision to become North America’s premier energy infrastructure company.” (read more)
When I read this announcement, the first picture that came to my mind was a meme CTH shared well over a year ago while watching Commerce Secretary Wilbur Ross in the audience at Trump’s Warsaw speech:
CTH has now achieved master level meme prediction skillz.