PGNiG signs deal with Energinet ending the Open Season procedure for Baltic Pipe

WSE-listed gas giant PGNiG signed a 15-year long agreement with Danish gas transit operator Energinet for gas transit via the planned Baltic Pipe scheme. The deal will start in 2022 when the project is expected to become operational. Last week, PGNiG signed an identical agreement with the Polish operator Gaz-System. The deal value is PLN 8.1 billion combined. The signing of the deals means that the Open Season procedure for the pipeline has ended. 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.