PGNiG aims for 1.5 bcm gas extraction in Norway

Energy Trade

Normal 0 21 false false false MicrosoftInternetExplorer4 st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Normál táblázat"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} Poland’s gas monopoly PGNiG wants to extract at least 1.5 billion cubic meters (bcm) annually from gas fields in Norway, PGNiG deputy chief executive was quoted as saying on Wednesday.

The company is also interested in building its presence in North Africa, Radoslaw Dudzinski told Gazeta Prawna daily. “In Norway we would like to extract annually at least 1.5 billion cubic meters. North Africa is a second region we are interested in. We already have licenses in Egypt and Libya,” Dudzinski said. At the moment PGNiG extracts about 0.5 bcm in Norway and is interested in acquiring new extraction licenses.

PGNiG will reshuffle its investment program by transferring two costly projects - LNG gas terminal and Baltic Pipe pipeline - onto a fully state-owned pipeline operator Gaz System. The freed cash will mainly go into projects related with extraction and exploration, Dudzinski said.

PGNiG, which sells about 13-14 bcm of natural gas annually, is mainly dependent on imported gas from Russia. The company extracts less than one-third of the gas it sells. (Reuters)

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