Polish gas firm forecasts increased gas extraction in Norway

Leszek Szymański/PAP

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 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.