Poland Discovers Critically important Oil and Gas Deposits in Baltic Sea, Experts Urge Realistic Expectations
New discoveries of oil and natural gas deposits within Poland’s exclusive economic zone in the Baltic Sea, made by a Canadian company, have sparked discussion about the nation’s energy future.However, experts are cautioning against inflated expectations of immediate price reductions or Poland becoming a major energy exporter akin to Norway or Kuwait.
Krzysztof Kopeć, former director of the Energa Prague Office and long-time employee of the Lotos group, expressed skepticism regarding claims of cheaper fuel. He highlighted the logistical challenges, questioning the plans for natural gas extraction alongside crude oil and the necessity of building a gas pipeline ashore, a project he described as time-consuming and capital-intensive. Kopeć also noted that oil from the new deposit might reach a refinery in German Schwedt more easily than one in Gdańsk.
Jakub Wiech, chief editor of Energetyka24.com, acknowledged the finding as significant for Poland, stating, “Mieda state, but with this great oil deposit ‘Come on’.” However, he tempered this by noting that the resources from the wolin East deposit are only sufficient for Poland for a few months, adding, “The fact that the bed is considerable for Polish conditions, but we will not be Kuwait.”
daniel Obajtek, a Member of the European Parliament and former president of Orlen, characterized the oil deposit near Świnoujście as “medium-sized.” He raised questions about the profitability and timeline of extracting the estimated 22 million tons, emphasizing that the total amount is less than a year’s worth of Polish consumption. “No petromocyroie will not be,” he stated, dismissing notions of Poland becoming a major oil power.
Obajtek also pointed to the proximity of the deposit to Poland’s LNG terminal, which played a crucial role during the energy crisis. He stressed the importance of prioritizing the terminal’s safety and logistics. He further suggested that the timing of the announcement, following previous unsuccessful attempts to sell licenses for the deposit, might be an effort to create demand and influence prices.
Anna Łukaszewska-Trzeciakowska, former Undersecretary of State in the Ministry of Climate and Environment, echoed these sentiments, indicating a similar perspective on the discovery’s implications.
