Bank Of Baku

PKN Orlen signs deal with Mercuria Energy

PKN Orlen signs deal with Mercuria Energy
# 03 December 2009 16:46 (UTC +04:00)
Baku– APA-Economics. Polish oil company PKN Orlen has signed an agreement with Mercuria Energy Trading for the Russian export blend crude oil deliveries, in the quantity of 4.8 million tonnes per year, by Przyjazn pipeline to PKN Orlen.
The agreement is valid from January 1, 2010 to December 31, 2012. In some cases, described in the agreement, the deliveries can be realized by sea to Gdansk. The agreement contains liquidated damages in the amount not higher than PLN3 million monthly, the company said.
PKN Orlen has added that the estimated value of the deliveries to December 31, 2012 amounts to PLN22 billion.
The total estimated value of agreements signed between PKN Orlen and Mercuria Energy in the period between June 3, 2009 to December 1, 2009 amounts to approximately PLN23 billion.
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