Locked content PGNiG Q4 net profit drops

WSE-listed gas giant PGNiG had PLN 430 million net profit in Q4, down from PLN 720 million profit a year ago, according to the company’s preliminary figures. Revenues amounted to PLN 10.97 billion, compared to PLN 10.15 billion last year, while the adjusted EBITDA stood at PLN 1.84 billion, slightly...

Locked content PGNiG mulls takeover in Norway. No plans to sell Termika

WSE-listed gas giant PGNiG is considering acquiring production assets in Norway this year.” The talks in this matter have been ongoing for two years now. We are not in a hurry,” company’s CEO Piotr Wożniak said. He stressed that the company is primarily interested in gas deposits, rather than crude ...

Locked content PSG with PLN 2.8 bln CAPEX

PSG, a subsidiary of WSE-listed gas giant PGNiG had its PLN 2.86 billion CAPEX approved by the energy market regulator URE. The company plans to invest this amount in the next two years. As stated, the funds will be used for adding new clients, construction of new and modernization of existing gas d...

Locked content PGNiG Q4 results to take PLN 776 mln hit from impairments

WSE-listed gas giant PGNiG will have PLN 776 million negative impact on its Q4 operating results on impairments and expenses write-offs, the company said in a market filing. The impairments include PLN 176 million for assets in the upstream segments due to the assessment of future cash flows, change...

Locked content PGNiG signs Baltic Pipe gas delivery deal

WSE-listed gas giant PGNiG signed a 15-year long agreement with Polish gas transit operator Gaz-System for gas transit via the planned Baltic Pipe scheme. The deal will start in 2022 when the project is expected to become operational. The deal value is PLN 8.1 billion. The pipeline is expected to ha...

Locked content PGNiG with new deposits in Podkarpacie

WSE-listed gas giant PGNiG recorded industrial-scale gas flows at its two new boreholes in the Podkarpackie voivodship. The company estimates that after connecting to the mining infrastructure, the gas flows from the Sędziszów-38K well will amount to some 68k cubic meters daily, while Korzeniówek-1K...

Locked content Lotos and PGNiG get two new Norwegian licenses each

WSE-listed Lotos and PGNiG each secured stakes in two exploration licenses on the Norwegian continental shelf, the Norwegian Ministry of Petroleum and Energy said. Lotos secured licenses on the North Sea, while PGNiG won stakes in licenses on the Norwegian Sea. They were awarded in the licensing rou...

Locked content PGNiG, JSW, Tauron, PGG sign methane production deal

WSE-listed, state-owned companies PGNiG, JSW, Tauron, and PGG signed a framework agreement to develop methane production from coal beds. PGNiG alone plans to spend PLN 300 million within the next three years on the project. The companies hope to increase domestic natural gas production, reduce the c...

Locked content PGNiG sells 1 bln m3 gas to Ukraine

Since launching gas sales to Ukraine back in August 2016, WSE-listed gas giant PGNiG sold over 1 billion cubic meters of blue fuel to Kiev. In 2017, alone it sold over 700 million cubic meters. “We are happy with this result. The sale of natural gas to Ukraine is growing thanks to the pricing policy...