Locked content PGNiG to spend PLN 680 mln on innovative investments in 2017-2022

Gas supplier PGNiG has earmarked PLN 680 million for research and development and innovations in the period 2017-2022, the company stated. “This means that on average PLN 100 million a year will be invested in innovative project, cooperation with startups and R&D programs that could positi...

Locked content PGNiG sees oil prices to grow by 27% and gas to drop by 25% by 2025

Crude oil prices should increase from the current $55 to some $70 per barrel in 2022, while gas prices will fall from PLN 80 to PLN 60 per MWh, WSE-listed gas giant PGNiG said in its updated strategy. “Increased supply of LNG from the US and Australia will be responsible for the drop in gas… ...

Locked content PGNiG extends LNG deal with Qatar

WSE-listed gas giant PGNiG has extended its deal with Qatargas for the additional supply of LNG. Under the new deal, the annual volume of LNG supplies will rise to 2.7 billion cubic meters  (from the previous 1.3 billion). The deal will run through 2018-2034. Between 2018-2020 the deliveries will re...

Locked content PGNiG lowers planned EBIDTA in its strategy update

WSE-listed gas group PGNiG plans to generate an average EBITDA of PLN 5.6 billion per year throughout 2017-2022 period. For the 2023-2026 period, EBIDTA should grow to PLN 9.2 billion per annum on average, the company said in its updated strategy. The previous strategy, posted in April last year, as...

Locked content PGNiG with PLN 0.69 bln Q4 net profit

WSE-listed gas giant PGNiG had a PLN 0.69 billion in net profits for Q4, according to the company’s preliminary financial report. The Q4 EBIT was PLN 1.02 billion, while EBITDA at PLN 1.69 billion. The revenue stood at PLN 10 billion. For the whole 2016, the net profit was PLN 2.32 billion. Th...

Locked content PGNiG signs PLN 1.4 bln deal with ArcelorMittal

WSE-listed natural gas giant PGNiG signed a contract with Polish subsidiary of ArceorMittal to deliver natural gas valued at PLN 1.4 billion. The deal will run through 2017-19 and has an option for a three year extension. The contract is based on “market terms at prices tied to stock exchange indexe...

Locked content Orlen and PGNiG to look for deposits together

State controlled fuel group PKN Orlen and natural gas producer PGNiG have expanded their cooperation in the hydrocarbon exploration in the Lubelskie basin. Under the deal, Orlen will share its 3D seismic data from the concession. Orlen and PGNiG have been cooperating since 2007. Currently, they work...

Locked content PGNiG opens LNG trading desk in London

WSE-listed, state-controlled, gas giant PGNiG, has opened its LNG trading office in London aimed to boost its sales. “We’ve considered a number of locations, including Singapore, Houston and Geneva, but we’ve decided on London, despite the recent geopolitical changes. This is where LNG i...