Page 12 - Euroil Week 39 2019

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NEWS IN BRIEF
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to Slovakian TSO Eustream, MOL’s FGSZ transmission subsidiary will also assume control of the Balassagyarmat interconnection point.
FGSZ also acquired state-owned transmission operator Magyar Gaz Tranzit (MGT) in late June for HUF38bn ($124mn), also agreeing on the pre-payment of loans.
September 30 2019
Romania to fully liberalise natural gas market again
Romania will fully liberalise its natural has market again within a year and a half, but it will compel local producers and suppliers
to trade 40%-50% of their deliveries transparently on the local market, under a calendar drawn up by energy market regulator ANRE.
Romania has sketched this calendar, as well as a similar one for the electricity market liberalisation, in order to address the concerns expressed by the European Commission after the country regulated the natural gas and electricity prices for residential consumers. A deadline for amending the provisions of the emergency decree 114/2018 was set by the
European Commission for mid-October, but it was recently deferred until the end of the year.
Under the proposed liberalisation calendar, local natural gas suppliers are still compelled to deliver gas at regulated price until next spring. During a transition period, they
will deliver only 50% of the gas purchased
by residential users at the regulated price. Starting April 2021, suppliers delivering
gas to households will have to purchase the entire amounts on the free market. Suppliers and producers will be compelled to buy at least 50% of their supply and sell 40% of
their production respectively on the local gas exchange.
bne IntelliNews, October 1 2019
Spanish gas demand up 17% in 9M-2019
Spain’s consumption of natural gas increased by 16.9% in the first nine months of 2019
to 294 TWh, according to its national transmission system operator (TSO) Enagas. In a report, Enagas attributed the growth
to higher demand for gas in the power generation sector and in industry.
Gas use in the electricity sector almost doubled to 85 TWh in the nine-month period, while consumption by industry rose 3% to 160 TWh.
October 1 2019
PGNiG offtakes Lotos’ Norwegian output
PGNiG has agreed on the exclusive purchase of gas produced by another Polish firm called Lotos Norway for two years starting this month.
PGNiG Supply & Trading has signed contracts to acquire gas extracted by Lotos Exploration and Production Norge from October 1 2019 until October 1 2021. Volumes will depend on Lotos’ production levels, and the contracts include an option to extend the supply term until October 1 2025.
“With its immense gas and oil production potential, Norway is one of the key directions of expansion for PGNiG,” PGNiG Vice President for Trade Maciej Wozniak said in a statement on October 2.
“The agreement reached with PGNiG
is attractive business-wise, all the more
so because natural gas accounts for approximately three quarters of our output in Norway,” Lotos Upstream President Tomasz Maj added. “The contract we
have signed proves that Polish companies are able to build a strong position on the international commodities markets through synergies.”
PGNiG wants to import more non- Russian gas to reduce Poland’s dependency on supplies from Gazprom. It is working with partners to develop a 10 bcm per
year pipeline to bring gas from Norway to Poland via Denmark. The pipeline is due to start up in 2022. Until then, its only option for acquiring Norwegian gas is in the form of LNG.
Lotos has 30mn barrels of oil equivalent in proven and probable hydrocarbon reserves off the coast of Norway, of which 40% is estimated to be gas. PGNiG also owns a number of its own gas deposits on the Norwegian shelf.
October 2 2019
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Week 39 03•October•2019