Poland's PGNiG agrees to buy stake in Norwegian gas field

19/10/2018 09:07 Natural Gas

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State-run Polish gas firm PGNiG says it has agreed to buy a stake in a Norwegian gas field amid efforts to diversify supplies.

PGNiG said on Thursday it was buying a 42.38-percent stake in the Tommeliten Alpha gas and condensate field in Norway from Equinor, formerly known as Statoil, for USD 220 million.

 

PGNiG Chief Executive Piotr Woźniak said in a statement that the acquisition in Norway was of special importance to the company and meant "a significant increase in natural gas production in the region.”

 

Woźniak added: “It is from here that we plan to send gas to Poland via Denmark through the planned Baltic Pipe pipeline.”

 

The Baltic Pipe is a planned new energy project to connect Poland with Norway via Denmark aiming to reduce the country’s dependence on Russian gas.

 

PGNiG earlier this week said it had sealed a long-term deal for the purchase of liquefied natural gas (LNG) from the United States as part of efforts to make Poland independent of Russian supplies.

Source: thenews.pl

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