PGNiG reserves transit capacity for Baltic Pipe gas link

WSE-listed, state owned gas giant PGNIG has submitted a motion for reserving transit capacity in the Baltic Pipe gas link in the first phase of the Open Season procedure, the company said in a market filing. “PGNiG is planning to also take part in the second phase of the procedure starting September 5, 2017,” company’s CEO Piotr Woźniak added. The company currently has 18 licenses on the Norwegian continental shelf with 78 million barrel of oil equivalent (BOE). It currently produces 0.5 billion cubic meters of gas from there annually and plans to increase the production to 2.5 bcm by 2022. The Baltic Pipe is expected to have a capacity of 10 bcm annually. It will connect Poland with gas deposits on the Norwegian continental shelf. The project will cost between €1.6 - 2.2 billion and could become operational by 2022.