Home News Polish authorities expect the European gas market to stabilize in two years

Polish authorities expect the European gas market to stabilize in two years

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The Polish government estimates that the stabilization of the gas market after Russia’s refusal to deliver will take about two years. This was stated at a press conference on Tuesday by the representative of the Polish government for strategic energy infrastructure, Piotr Naimsky.

“The market will stabilize when European consumers will be able to supply Europe not from Russia with such volumes of gas that are now being sent by Russia. It is a matter of making full use of the gas ports in Western Europe, the completion of certain elements of the gas pipelines so that all this can reach consumers. This will take some time, in all likelihood, in about two years, “he said.

As Naimsky acknowledged, some difficulties in the market can be expected during this period. “We are not in a position to determine how strong these disruptions will be now. We will have to react according to the circumstances,” he added.

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Earlier on Tuesday, it was reported that Gazprom had refused to continue supplying gas to Poland under the Yamal contract because the Polish side had not agreed to pay for the gas in rubles. According to Naimsky, Poland recently received 9 billion cubic meters of gas a year through this contact.

As Naimsky recalled, Poland consumes about 20 billion cubic meters of gas a year. According to him, the country can already handle the Russian supply: the republic can receive 6.5 billion cubic meters through the LNG terminal in Swinoujscie, 5.5 billion cubic meters are secured by physical reversal on the Yamal gas pipeline, on May 1 a gas link. The pipeline with Lithuania will have another 2.5 billion cubic meters of gas, the connection with the Czech Republic will provide 1.5 billion cubic meters of gas, and in the summer a 5-6 billion cubic meter pipeline will be launched in Slovakia. Also in the autumn, Poland plans to launch the Baltic Pipe pipeline, which will link the republic to Norwegian sources through Denmark and be able to supply up to 10 billion cubic meters of gas a year.

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To date, Poland has no plans to use gas from storage facilities, which now has a volume of 3.81 billion cubic meters of gas. They are now 76% full, and authorities plan to fill them completely by winter.

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