Locked content Danish investors estimates Baltic Pipe cost at €1.6-2.2 bln

According to Energinet, Danish gas operator involved in the Baltic Pipe project, the gas link will cost some €1.6-2.2 billion. The Danish side expects to spend some €0.67-0.94 billion on the scheme. Energinet along with its Polish peer Gaz-System, launched an Open Season procedure on the project, ai...

Locked content PGNiG not worried about LNG deliveries from Qatar

WSE-listed gas giant PGNiG is not concerned about its orders of LNG from Qatar, after the recent tensions between Doha and several nations in the region. “When it comes to supplies, there are no developments that would worry us,” company’s deputy CEO Maciej Woźniak said. The company buys LNG from Qa...

Locked content PGNiG with PLN 1.6 bln Q1 net profit

WSE-listed gas giant PGNiG had PLN 1.59 billion consolidated net profit in Q1, up by 15.4 percent y/y. Revenues increased by 6.1 percent to PLN 11.65 billion, while EBITDA amounted to PLN 2.76 billion, up by 15.7 percent. The core segment of gas trade and storage generated PLN 358 million EBITDA, do...

Locked content PGNiG urges EU to take a tough stance on Gazprom

WSE-listed, state-owned gas giant PGNiG asked the European Commission to take a tough stance in its antitrust investigation against Gazprom, proposing that the Russian behemoth should pay fines and was forced to sell its assets. “The European Commission should financially punish Gazprom and create c...

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...