EU grants Poland a further 215 million euros for Baltic Pipe gas project

19/04/2019 09:09 Natural Gas

news

The European Commission has signed a deal with Poland’s GAZ-SYSTEM that will see a further 215 million euros invested in a natural gas pipeline between Denmark and Poland in order to import Norwegian gas.

GAZ-SYSTEM signed the agreement to co-finance the so-called Baltic Pipe as part of the Connecting Europe Facility with the Innovation and Network Executive Agency of the EU.

 

The Baltic Pipe project is due to become operational in 2022 and is aimed at making the region less dependent on Russian gas supplies.

 

Thus far EU support for the project has amounted to almost 266.8 million euros, and the total value of the project upon completion in 2022 is estimated to be 1.6 billion euros, of which around half is to be borne by the Poland.

Source: emerging-europe.com

Daily (14.05.2019): NBP day-ahead price tumbled by 8.1% on Monday, due to milder weather forecasts

14/05/2019 11:01:00

Crude oil prices lost ground on Monday, as China-US trade negotiations escalated further, and China claims to impose higher tariffs on a range of U.S. goods. Investors fear that the trade war can intesify and cause disturbances in global economy. As a result, Brent crude edged 0.6% lower to $70.23 a barrel, while WTI futures traded 1% lower at $61.04 a barrel.

<READ MORE

Russia’s Novatek could almost triple Vysotsk LNG capacity

14/05/2019 08:50:00

Russia’s Novatek, the operator and developer of two giant Arctic LNG export projects, may significantly increase output at its medium-scale liquefied natural gas export plant in Russia’s Baltic Sea port of Vysotsk.

READ MORE

Equinor increases stake in Gulf of Mexico oilfield

14/05/2019 08:47:00

Norwegian oil company Equinor has increased its stake in the Caesar Tonga oilfield in the U.S. Gulf of Mexico by buying Royal Dutch Shell’s 22.45% stake for $965 million in cash.

READ MORE