Gulf Oil and Gas accountACCOUNT

Orsted Enters into Agreement on Sale of Natural Gas to PGNiG

Source: www.gulfoilandgas.com 10/21/2020, Location: Europe

Ørsted has entered into a multi-year agreement on the sale of natural gas to Polish PGNiG Supply & Trading (PST). Under the agreement, Ørsted will, in 2023 to 2028, resell some of the natural gas that Ørsted receives from the Danish part of the North Sea to PST.

From mid-2022, when production is expected to resume in the Tyra field in the North Sea, production of natural gas in the Danish part of the North Sea will exceed Denmark’s demand for natural gas. And while the consumption of natural gas in Denmark is decreasing, the Danish production of biogas is increasing.

The agreement is based on existing natural gas purchase agreements that Ørsted is still party to. Today, Ørsted invests exclusively in clean energy and does no longer have any oil and natural gas production. Ørsted does not enter into new gas purchase agreements and does not renew existing long-term gas purchase agreements.

Facts about the agreement

- In the period from 1 January 2023 to 1 October 2028, PGNiG Supply & Trading (PST) expects to buy approx. 70 TWh of the natural gas that Ørsted purchases from the Danish part of the North Sea. By comparison, the Danish Energy Agency expects the North Sea production to be approx. 234 TWh, the production of biogas to be approx. 46 TWh, and the total gas consumption in Denmark to be approx. 115 TWh in the same period.

- PST is wholly owned by the Polish natural gas company PGNiG, which is 72 % owned by the Polish state.

- Under long-term gas purchase agreements, Ørsted buys some of the natural gas produced by Dansk Undergrunds Consortium (DUC) in the Danish part of the North Sea.

Natural Gas News in Denmark >>

Russia >>  11/11/2020 - A working meeting between Alexey Miller Chairman of the Gazprom Management Committee, and Viktor Karankevich, Minister of Energy of the Republic of Be...
United Arab Emirates >>  11/11/2020 - ADNOC LNG has signed up to a six-year supply agreement with Vitol, the world’s largest independent energy trader, for the sale of 1.8 million tons per...

Qatar >>  11/9/2020 - Qatar Petroleum hs announced the establishment and the start of operations of QP Trading LLC (QP Trading), as its dedicated LNG trading arm. Wholly o...
Australia >>  11/4/2020 - Santos, Western Australia’s biggest domestic gas producer, announced a new gas sales agreement to supply natural gas to Western Australian energy solu...

Brazil >>  11/4/2020 - Petrobras has readjusted, on 11/01/2020, the sales prices of natural gas for distributors for the contracts started in January 2020. The adjustments o...
Russia >>  11/2/2020 - Polskie Górnictwo Naftowe i Gazownictwo has filed a request for the renegotiation of price terms of natural gas supplies under a long-term contract wi...




Denmark Oil & Gas 1 >>  2 | 3 | 4 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.