EQNR - Poland secures gas from Equinor in 10-year supply deal
Equinor ( NYSE: EQNR ) said Friday it entered into a 10-year agreement to sell natural gas to Poland's PGNiG, which eventually will help the country's access to energy following Russia's export cuts.
The companies said the deal comprises 2.4B cm/year, corresponding to ~15% of Poland's annual consumption.
The gas will be transported through the new Baltic Pipe gas pipeline, which opens next week and has a capacity of 10B cm/year.
Europe is looking to replace Russian gas, and elevated natural gas prices is a boon for Equinor ( EQNR ), Tudor Invest Holdings writes in a bullish analysis newly posted on Seeking Alpha .
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Poland secures gas from Equinor in 10-year supply deal