PGNiG bought shares in two more gas fields in Norway

A subsidiary of PGNiG Upstream Norway completed a deal to buy shares in two more offshore fields in Norway. This is reported by Business Censor.

PGNiG now owns 31 shares on the Norwegian continental shelf.

The company estimates that through the purchase of new shares, gas production will increase by 100 million cubic meters per year.

“We are very pleased that the finalization of our latest acquisitions on the Norwegian continental shelf coincided with the announcement of the start of construction of the Baltic Pipe,” said Jerzy Kwiecinski, President of PGNiG.

Recall, the Italian engineering company Saipem received a contract for the construction of the offshore section of the Baltic Pipe gas pipeline from Denmark to Poland. The start of gas supply through the pipeline is scheduled for October 1, 2022.

The Baltic Pipe gas pipeline is supposed to connect the fields on the Norwegian shelf in the North Sea with Poland through Denmark. The planned capacity of the pipeline is 10 billion cubic meters of gas per year.

Tags: contracts, hydrocarbon production, legislation, EU, gas imports, energy market, gas production, GTS, RF, foreign affairs, Gas market, pipeline, agreement, gas supplies, infrastructure, Poland, energy sector, gas extraction, natural gas

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