PGNiG signs Baltic Pipe gas delivery deal

WSE-listed gas giant PGNiG signed a 15-year long agreement with Polish gas transit operator Gaz-System for gas transit via the planned Baltic Pipe scheme. The deal will start in 2022 when the project is expected to become operational. The deal value is PLN 8.1 billion. The pipeline is expected to have a capacity of 10 bcm annually. It will connect Poland with gas deposits on the North Sea. The project will cost between €1.6 - 2.2 billion and could become operational by 2022. The gas link will cost between €1.6 - 2.2 billion according to estimates, with Gaz-System paying €847 million.