Polish state-owned natural gas company PGNiG has forecast an increase in its extraction of gas in Norway for the years 2022-24.
PGNiG said in a press release its subsidiary PGNiG Upstream Norway expected to extract 3 billion cubic metres (bcm) of natural gas in 2022, 0.5 bcm more than originally planned, 2.5 bcm in 2023 and 2.9 bcm in 2024.
“The Norwegian Continental Shelf is a priority area of development of the PGNiG Group’s exploration and production operations and plays a very important role in our strategy for diversification of gas supplies to the Polish market. In connection with recent events, including cut off of gas supplies under the Yamal contract, the results of our operations in Norway have gained particular significance. Soon, after the launch of the Baltic Pipe, additional cubic meters of gas extracted by PGNiG in Norway will translate to more energy security for Poland”, Iwona Waksmundzka-Olejniczak, President of the Management Board of PGNiG SA, said.
“I would like to thank the license partners of PGNiG Upstream Norway and the Norwegian petroleum administration, without which cooperation production of additional half a billion cubic meters of natural gas by our Group this year would not have been possible”, she added.
The Polish gas giant also predicted it would extract 863,000 tonnes of crude oil in 2022 as well as 798,000 and 928,000 tonnes in 2023 and 2024 respectively.
Following the launch of the Baltic Pipe gas pipeline, planned for October 2022, gas from the Norwegian fields will be piped direct to Poland, PGNiG pointed out.
PGNiG Upstream Norway holds shares in 58 licences on the Norwegian Continental Shelf and the company highlighted that its activities there took on greater importance in light of Russia’s Gazprom halting supplies to Poland through the Yamal pipeline.
PGNiG added that the new gas extraction strategy will also affect the profile of crude oil extraction from the deposits in the years 2022-2024.
The whole press release is available here.