PGNiG acquired INEOS, which owns shares in 21 concessions on the Norwegian shelf

Poland's PGNiG (Polskie Górnictwo Naftowe i Gazownictwo) has acquired the INEOS group of companies, which owns assets with equity interests in 21 concessions and the Nyhamna gas terminal on the Norwegian continental shelf. This was reported by the press service of PGNiG.

Thus, in just this year, the company almost doubled the number of its concessions in Norway - up to 62.

The press service noted that this acquisition operation was particularly important for PGNiG, since in 2022 they will exceed the strategic goal of production in Norway - 2.5 billion cubic meters of gas per year.

But they reminded that in 2027 they plan to extract 4 billion cubic meters of hydrocarbons from their Norwegian deposits.

"The absorption of all assets of INEOS E&P Norge AS will provide a significant amount of natural gas for the gas pipeline - Baltic Pipe. After its commissioning, the gas produced by PGNiG on the Norwegian continental shelf will flow to Poland, increasing the country's energy security," PGNiG emphasized.