Locked content PGNiG buys interest in Tommeilten discovery for $220 mln

PGNiG Upstream Norway, part of PGNiG Group, signed an agreement to buy an interest in Tommeilten Alpha gas and condensate field in Norway from Equinor. The purchase price was agreed at $220 million. According to PGNiG estimates, the acquisition will allow increasing gas production output from Norweg...

Locked content PGNiG signs two deals for LNG supplies from US

PGNiG signed two binding agreements with US-based firms Venture Global Calcasieu Pass and Venture Global Plaquemines LNG for LNG supplies. Every year PGNiG will purchase 1 million tonnes of LNG from each of the companies. The contracts will last 20 years. Deliveries may be subject to further trading...

Locked content PGNiG files complaint against the EC’s decision on Gazprom 

PGNiG has taken legal action against the European Commission, complaining to the EU court about its decision regarding the settlement with Gazprom. The company believes that the Russian monopolist continues to violate EU law. Now the judges of the EU Court of Justice in Luxembourg will analyze the c...

Locked content Fitch keeps PGNiG ratings at BBB- with stable outlook

Fitch Ratings maintained longterm ratings for PGNiG at the BBB- level with a stable outlook, the agency said. “Confirmation of the rating reflects the strong, integrated position of PGNiG on the Polish gas market, low leverage, and solid liquidity. The rating is supported by the regulated gas ...

Locked content PGNiG to finalize two US LNG deals by end-2018

WSE-listed, state-run gas giant PGNiG hopes to sign at least two new long-term contracts for LNG supplies from the US by end-2018, deputy CEO Maciej Woźniak said. “In July this year, we announced 20-year contracts for LNG purchases, on the basis of ‘we buy this gas and buy it where we deem it approp...

Locked content Natural gas consumption rises in Poland – PGNiG

In January-August, LNG accounted for nearly 20 percent of PGNiG imports, while natural gas from Russia accounted for about 74 percent of imports. In the same period imports of LNG have risen by nearly 64 percent y/y, while imports of natural gas from Russia have increased by nearly 7 percent, PGNiG ...

Locked content Gas exports to Ukraine amounted to 33.96 mln m3 in H1 2018

Export of gas from Poland to Ukraine, carried out by five entities (including state-controlled oil and gas company PGNiG), totaled 33.96 million m3 in the first half of 2018, Deputy Minister of Energy Tomasz Dąbrowski informed. In 2017, the total volume of gas exports to Ukraine amounted to 1,173.2 ...

Locked content PGNiG to increase Norwegian production to 10 bcm

WSE-listed, state-run gas giant PGNiG hopes to increase its production from Norwegian deposits to 10 billion cubic meters (bcm) per year, according to its CEO Piotr Woźniak. “We will eventually target to have production from deposits in Norway at the level of 10 bcm, which is the equivalent of the B...

Locked content PGNiG Q2 net profit up at PLN 704 mln

WSE-listed gas giant PGNiG reported PLN 704 million of consolidated net profit in Q2 compared to PLN 499 million a year ago. Operating profit grew to PLN 969 million from PLN 768 million y/y. EBITDA rose to PLN 1.63 billion from PLN 1.41 billion y/y. Revenue amounted to PLN 7.64 billion. In H1 net p...