Following the acquisition of interests in the fields in the Norwegian Continental Shelf and signing the agreement with Energinet.dk concerning the construction of the Baltic Pipe, which is to connect the Polish and Danish gas systems, the participation of PGNiG in the Consortium developing the SKANLED pipeline is another important step on the way to securing natural gas supply from Scandinavia to Poland. This means coming back to the strategic agreement with the Danish and Norwegian partners of 2001 as an element of the strategy for diversification of the gas supply to Poland ”V said Krzysztof Glogowski and Zenon Kuchciak members of the Management Board of PGNiG after signing the consortium membership agreement.
The business concept currently implemented by PGNiG consists of four elements:
The terms agreed in the process of negotiations with the consortium members and Gassco include, among other things, the following:
With the acquisition of a stake in the Consortium, PGNiG has obtained the right to take part in decisions concerning all its matters, the right to take decisions regarding capacity booking and the access to the entire project documentation.
Before inclusion of PGNiG, the Consortium was formed by 7 energy companies from Norway, Denmark and Sweden, which jointly held 70% of the stakes. Among them there is Energinet.dk, the partner of PGNiG in the Baltic Pipe project. Two other new members who joined the Consortium together with PGNiG are E.ON and Preem Petroleum. Currently, the Consortium operates as a joint venture.
Technical parameters of the SKANLED project
Financial expenditures of PGNiG in the project
PGNiG as a new member of the Consortium is obliged to participate in the costs of Phase 2, which consists in funding the project study work. The share of PGNiG matches the contributions by each of the remaining members and amounts to approximately PLN 500 thousand.
At this point the project has entered Phase 3, which will last until October 2009, when the final decision to disburse funds will be taken. By that time the environmental consents and building permits will be obtained. The costs to be incurred by PGNiG in Phase 3 of the SKANLED project should not exceed PLN 10 million. This amount will be reimbursed if PGNiG withdraws from the project and the entire project enters the execution phase.
Upon completion of Phase 3, in October 2009, the investment decision is expected. The entry to Phase 4 will depend on the individual decision by each Consortium member. The level of potential obligations of PGNiG resulting from the investment decision is estimated at approx. PLN 500 million.
Main benefits from the participation of PGNiG in the SKANLED Consortium are:
Most Popular Articles
From the Career Center
Jobs that may interest you