PGNiG to spend PLN 4.5 bln on investments. Cuts down spending on shale gas exploration
Natural gas giant PGNiG’s expected capex for 2014 is planned for PLN 4.5 bln, the company wrote in the market filing.
From this figure, PLN 1.9 billion will be earmarked for exploration of new deposits, less than the PLN 2.5 billion that was spent in 2013. Only PLN 900 million will be spent on shale gas exploration. Out of 33 new drillings planned for 2014, only 10 will concern shale gas.
While expenditures on shale gas exploration will drop, the funds earmarked for investments concerning natural gas. Some PLN 1.2 billion will be spent on expanding and modernization of its gas network and PLN 700 million on expansion of its underground gas storage facilities.
