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

19/10/2018 09:07 Natural Gas


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

Daily (13.08.2019): European carbon prices slumped by over 5% on Monday amid a weaker auction

13/08/2019 10:05:00

Oil prices remained bullish on Monday, on expectations for deeper cuts of global oil supplies that might counterbalance the slowing growth of global crude demand driven by the U.S.-China trade dispute. Brent crude traded 0.1% up at $58.57 a barrel. At the same time, the ongoing tensions between the U.S. and Iran, along with a weakening dollar, pushed the WTI futures 0.8% higher at $54.93 a barrel.


Coal generation in Europe down 19% in 2019 as phase-outs take effect

13/08/2019 08:42:00

Coal generation in Europe dipped 19% over the first six months of 2019, according to Brussels-based think tank Sandbag.


Wintershall Dea begun drilling 4 production wells on the Dvalin gas field in the Norwegian Sea

13/08/2019 08:36:00

Wintershall Dea reported today that it has begun drilling 4 production wells on the Dvalin gas field in the Norwegian Sea, getting ready for the start of production in 2020.