Locked content PGNiG to receive first supply of US LNG in June

WSE-listed gas producer PGNiG signed a deal with US Cheniere Energy for the supply of US-made LNG, which is a first such deal in the region, PGNiG said. “We found a new trade partner in the US, and North America has become another region, after Norway and the Middle East from where we can acquire re...

Locked content PGNiG expects record gas sales in 2017

According to KHM’s deputy CEO Maciej Woźniak, the state-run gas giant PGNiG will see record-high gas sales this year. “Q1 has given reasons to expect that this year will be a record year in terms of natural gas sales,” Woźniak said. The company increased sales in Q1 by 12.7 percent y/y to 8.89 billi...

Locked content PGNiG to sell 218 mln cm3 of gas to Ukraine

WSE-listed, state-controlled gas utility PGNiG will sell 218 million cubic meters to Ukrainian firm Ukrtrans, the company said in a press statement. “Last year, we’ve begun exporting our gas to Ukraine, which was a success. This whole time we’ve been carefully analyzing the local market,...

Locked content PGG – KHW merger approved. Gets PLN 400 mln financing

The management board of Katowicki Holding Węglowy (KHW) approved the transfer of KHW assets to Polska Grupa Górnicza (PGG), clearing one of the final hurdles before the merger is finalized. The transaction is expected to be completed this week. Additionally, two state-controlled utilities, Energa an...

Locked content PGNiG buys stake in Norwegian deposit

WSE-listed gas producer PGNiG purchased a 35 percent stake in the Storklakken deposit on the Norwegian continental shelf from Aker BP, PGNiG said in a market filing, without specifying the price. Aker will retain the remaining 65 percent shares. PGNiG share in the PL460 concession on the North Sea i...

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...