PGNiG eyes Norway booster

Polish gas player PGNiG wants to produce at least 1.5 billion cubic metres per annum - about 4.1 million cubic metres per day - from gas fields in Norway, PGNiG deputy chief executive Radoslaw Dudzinski said.

The company is also interested in boosting its presence in North Africa, Radoslaw Dudzinski told daily newspaper Gazeta Prawna in an interview published today.

"In Norway we would like to extract annually at least 1.5 billion cubic metres. North Africa is a second region we are interested in. We already have licences in Egypt and Libya," Dudzinski told the newspaper.

At the moment PGNiG pumps about 500 million cubic metres per annum - roughly 1.3 MMcmd - Norway and is interested in buying more assets in the country.

Dudzinski added that PGNiG will reshuffle its investment programme by transferring two projects - a liquefied natural gas terminal and the Baltic Pipe pipeline - to fully state-owned pipeline operator Gaz System.

The cash freed up by the move will mainly be spent on exploration and production, Dudzinski said.

PGNiG is dependent on imported gas from Russia. The company produces less than one-third of the gas it sells.


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