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Poland to compensate refusal from Russian gas by buying it from US and EU

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Poland to compensate refusal from Russian gas by buying it from US and EU
December 11
13:00 2019

It became known that the Polish state company PGNiG did not plan to prolong the contract for the purchase of Russian gas (it enters the republic through “Yamal-Europe”). Poland is going to compensate for the deficit by concluding agreements with Norway, the USA, Qatar and the EU.

Since the beginning of the year, about 19 billion cubic meters of gas have been used in Poland. 4 billion cubic meters have been produced nationally; about 9 billion were bought in Russia. From the European Union, 3.5 billion cubic meters of resources were received from the European Union.

The agreement between Gazprom and PGNiG ends in 2023.

By the way, from 2023, PGNiG plans to significantly increase resource consumption (up to 23 billion cubic meters per year). If you subtract your own production, then each of the remaining sources will have about 7.5 billion cubic meters of gas per year. It should be said that the production will be slightly reduced.

Starting in 2023 Poland plans to purchase from Norway up to 10 billion cubic meters of gas per year (a quarter of this gas is produced by PGNiG under the Norwegian concessions).

Norwegian gas will be supplied via the Baltic Pipe gas pipeline, which is still under construction. It will pass through the territory of Denmark and Sweden, which will also take gas from it.

The contract with Gazprom was concluded in autumn of 1996; in mid-November it became known that Gazprom and Gazprom Export had received official notice from Poland, which stated their unwillingness to renew the contract after 2022. The desire to ensure security of supply by the Polish side is the official reason of the refusal.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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