Polish gas giant inks gas provision agreement with Norway's ...| MENAFN.COM

Sunday, 04 December 2022 06:26 GMT

Polish gas giant inks gas provision agreement with Norway's Equinor


(MENAFN) Poland's natural gas firm PGNiG inked a 10-year deal with Equinor to reach up to 2.4 billion cubic meters (bcm) in yearly Norwegian natural gas provisions up to Jan. 1, 2033, the firm declared on Friday.

Gas bought from Equinor are going to be shipped to Poland through the Baltic Pipe pipeline.

The Baltic Pipe, a two sided project among Polish and Danish gas operators Gaz-System and Energinet, is going to begin operation on the first of October.

When completely active, the pipeline is going to deliver nearly 10 bcm of gas yearly.

Up to now, PGNiG has reserved nearly 8 bcm, according to its own extraction in Norway, which in 2022 is going to amount to 3 bcm, and could rise to 4 bcm yearly in the upcoming years, the firm stated.

“Equinor is a broad energy provider and has been a key supplier of gas to Europe for 45 years. I am very happy that through this gas sales agreement we can extend our offering as a reliable energy partner also to Poland,” as stated by Equinor’s Executive Vice leader for Marketing, Midstream and Processing, Irene Rummelhoff.

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