• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 11 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 53 mins Reality catching up with EV forecasts
  • 19 hours A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
  • 1 day "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 11 days US Oil Independence is a myth and will always be a myth
  • 7 days The Federal Reserve and Money...Aspects which are not widely known
  • 11 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 15 days Natural gas price to spike when USA is out of the market
  • 14 days "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 15 days *****5 STARS - "The Markets are Rigged" by The Corbett Report

Ukraine, Poland Plan Gas Hub To Cut Russian Dominance

Poland and Ukraine plan to develop a regional gas hub on the Poland-Ukraine border that would supply the region with gas other than Russia’s, in a bid to end Central and Eastern Europe’s dependence on Russian gas and have prices aligned to European standards.

Polish and Ukrainian government officials expressed hope on Tuesday that the regional hub could be set up by 2022 on the border between the two countries, The Associated Press reports.

According to AP, the future gas hub would deliver gas to Central and Eastern Europe from Western Europe, LNG that had docked at Polish ports, and from a new pipeline planned to ship gas from the North Sea to Poland.

ADVERTISEMENT

This new pipeline, Baltic Pipe, is a project for a potential new gas pipeline that would provide Denmark and Poland with a direct access to Norway’s gas fields. The project is in its early stages, with exact routing yet to be detailed and environmental impact assessments to be made. According to Denmark’s Energinet, one of the parties in the project together with Poland’s GAZ-SYSTEM SA, the final investment decision on Baltic Pipe is expected to be reached by 2018.

Russia’s gas giant Gazprom says that its share of Europe’s gas consumption grew to a record high of 34 percent in 2016. In Central and Eastern Europe, however, Gazprom’s dominance is much higher in some countries, and Moscow is often viewed as politicizing natural gas sales. Poland has been pushing against plans for Nord Stream 2, an expansion of an existing pipeline that runs from Russia to Germany via the Baltic Sea.

ADVERTISEMENT

Related: 4 Wildly Different Oil Price Scenarios For 2020

NATO member Poland, which still imports two-thirds of its gas from Russia, has been seeking alternative sources of supply for national security reasons.

Polish Oil & Gas Company (PGNiG) has a strategic agreement with Qatargas for LNG supplies, and Poland will soon receive the first U.S. LNG cargo to a country from Central and Eastern Europe—Cheniere Energy is expected to deliver the cargo in the first half of June, under a deal with PGNiG,

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

ADVERTISEMENT


ADVERTISEMENT


Leave a comment
  • Naomi on June 06 2017 said:
    World LNG exports are planned to increase 33% over the next five years. Australia, Iran, and Qatar are not even in gear yet. The price is right at $5.50/BCM and there will be plenty of LNG available.

    LNG could replace crude oil. OPEC is scared enough to embargo Qatar. For sure the price of crude oil is coming down.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News