PGNiG to buy gas deposits from Norway

Polish state-controlled natural oil and gas company PGNiG plans to buy gas deposits in Norway, the CEO Piotr Woźniak informed. "We are working intensively to buy deposits in Norway," the official confirmed during a press conference on September 8. Additionally, PGNiG wants to increase its gas output in Norway to 2.0-2.5 billion cubic metres annually by 2022, while in 2015 PGNiG's gas output in Norway stood at 573 million cubic metres. PGNiG buys most of its gas for distribution from Russia's Gazprom. The long-term gas supplies contract with Gazprom ends in 2022 and by that time Poland wants to secure gas supplies from other sources, mostly from Norway and through LNG terminal. PGNiG has been listed on the Warsaw Stock Exchange since 2005.