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 assets. PGNiG currently has interests in 21 exploration and production licenses on the Norwegian Continental Shelf. Furthermore, Woźniak called recent rumors that PGNiG wants to sell its heat subsidiary Termika “a media facts.” “We like our heating business even if it’s not the core business. It generates PLN 1 billion in annual EBITDA,” he added.