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Final investment decision on the Baltic Pipe project

Published by
World Pipelines,


A statement has been released of the PGNiG Management Board following the final investment decision on the Baltic Pipe project.

“The Management Board of PGNiG SA is satisfied with the information on the investment decision regarding the construction of the Baltic Pipe gas pipeline. This is a key investment from the point of view of Poland's energy security and implementation of the PGNiG Group strategy.

“The construction of Baltic Pipe will finally allow Poland to bring gas from our fields on the Norwegian Continental Shelf. Thanks to this investment we will gain direct access to resources that have been used by other European countries for a long time, and it is essential for the stabilisation of the natural gas market in Poland as well as in Central and Eastern Europe,” commented Piotr Wozniak, President of the PGNiG Management Board.

The PGNiG Group has been operating on the Norwegian Continental Shelf for 11 years. It owns shares in 20 licenses, and acts as an operator on two of them, being the first company from Poland. In line with its strategy, after 2022 the PGNiG Group plans to extract in Norway 2.5 billion m3/y of natural gas.

In 2017 PGNiG reserved the capacity of the Baltic Pipe for the period from 1 October 2022 to 30 September 2037.

Read the article online at: https://www.worldpipelines.com/project-news/30112018/final-investment-decision-on-the-baltic-pipe-project/

 

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Baltic pipeline news