News

For the second time the Corporate Social Responsibility Report of the PGNiG Group was appreciated and won a distinction from the jury of Poland's most prestigious competition for the best corporate social responsibility report, organised, for the fourth successive year, by the Responsible Business Forum, CSR Consulting, and PwC, under the patronage of Mr Waldemar Pawlak, Minister of Economy.

Polskie Górnictwo Naftowe i Gazownictwo SA (PGNIG SA) reports that on December 16th 2010 the President of the Energy Regulatory Office approved the new Tariff for the supply of gas fuels, which introduces lower prices of gas fuels. The new prices of gas fuels will be effective from January 1st 2011 until March 31st 2011. Under the new Tariff, the prices of high-methane gas and nitrogen-rich gas will decrease on average by ca. 3.23%. This means that the monthly gas bills of households using gas for cooking will be lower by PLN 0.31 on average. The rates of network charges and subscription fees will not change. The prices of propane-butane-air gas and decompressed natural gas will also remain unchanged.

In Q3 2010, the PGNiG Group posted a 13% growth in sales revenue, to approx. PLN 3.9bn, relative to the corresponding quarter of 2009. Net profit for the first three quarters of 2010 was a little over PLN 1.3bn, up by PLN 1.4bn on the same period of 2009. This marked improvement in financial performance was driven primarily by higher volumes of gas sales, as well as strong revenue from sales of crude oil and the provision of geophysical, geological and exploration services.

In Warsaw, on October 29th 2010, Polskie Górnictwo Naftowe i Gazownictwo SA and Gazprom Export signed an annex to the Yamal Contract of September 25th 1996 between PGNiG SA and OAO Gazprom/OOO Gazprom Export.  

Polskie Górnictwo Naftowe i Gazownictwo SA has completed the construction of a new Wielichowo natural gas mine near Grodzisk Wielkopolski. This project will add approximately 200m-300m cubic meters of natural gas (high-methane equivalent) to Poland's annual domestic output. The Wielichowo Mine is closely related to PGNiG SA's two other projects in the region: the Bonikowo Underground Gas Storage Facility and the Nitrogen Removal Facility in Grodzisk.

As the conditions precedent to the Gas Sales Agreement of May 3rd 2010 had not been met, PGNiG and E.ON Ruhrgas expressed their willingness to set new deadlines and decided to sign an Agreement, under which new deadlines for meeting the conditions precedent apply.

On September 21st 2010, PGNiG Norway AS (a subsidiary of PGNiG SA) received the approval of the Norwegian Ministry of Petroleum and Energy for the acquisition from Statoil Petroleum of a 10% working interest in the PL 326 licence on the Norwegian Sea.  

Seeking to ensure continuity of gas supplies to households and utilities, in Q4 2010 Polskie Górnictwo Naftowe i Gazownictwo SA may decide to reduce supplies to industrial customers.

Polskie Górnictwo Naftowe i Gazownictwo SA (PGNIG SA) reports that on September 16th 2010, the President of the Energy Regulatory Office approved the new Tariff for the supply of gas fuels which will be effective from October 1st 2010 to March 31st 2011. Under the new Tariff, the price of high-methane gas will grow on average by ca. 6.34%. Monthly gas bills of households using gas for cooking will be higher by PLN 0.58 on average. The rates of network charges and subscription fees will remain unchanged.

Polskie Górnictwo Naftowe i Gazownictwo SA reports that on September 1st 2010 Ukrainian company NAK Naftogaz Ukrainy discontinued the supply of natural gas to Hrubieszów.  

In H1 2010, the PGNiG Group posted net profit of PLN 994m, up by nearly PLN 1.5bn on the PLN 493m loss reported for H1 2009. This strong improvement is attributable to the higher profitability of high-methane gas sales and a 7% rise in the volume of gas sold due to temperatures in the period from January to April being lower than those recorded in the corresponding period of the previous year.

On August 31st 2010, PGNiG Norway signed a USD 400m credit facility agreement ("the Facility") with seven banks (Crédit Agricole CIB, BNP Paribas, Société Générale, Natixis, The Bank of Tokyo Mitsubishi UFJ, UniCredit Bank AG and KBC Bank NV). The agreement marks another stepping stone in securing the financing for the PGNiG Group's investment projects.

Mr Waldemar Wójcik has resigned from his position as Vice-President of PGNiG SA's Management Board. The Company's Supervisory Board received his resignation letter on August 16th 2010.  

On July 30th 2010, Polskie Górnictwo Naftowe i Gazownictwo SA signed a contract with KGHM Polska Miedź SA under which 266 million cubic metres of natural gas annually will be sold to KGHM Polska Miedź SA. The value of the contract is estimated at PLN 4.0 billion.  

 The Extraordinary General Shareholders Meeting of PGNiG SA adopted a resolution to consolidate the service companies of the PGNiG Group and grant security for a loan to be advanced to PGNiG Norway AS.  

At the meeting held on July 19th 2010, the Supervisory Board of PGNiG SA appointed Mr Marek Karabuła as Vice-President of the Management Board of the Company.    

On July 9th 2010, Polskie Górnictwo Naftowe i Gazownictwo SA performed first in Poland large-scale fracturing operation in the Markowola-1 well (located within the Pionki-Kazimierz license) with the aim of proving unconventional gas reserves (tight gas). If the fracturing process delivers positive results, development work designed to prepare the formation for production will shortly be undertaken.

In view of the information published on the Internet between June 30th and July 1st 2011 concerning a letter of intent for liquefied natural gas (LNG) supplies to Poland, Polskie Górnictwo Naftowe i Gazownictwo SA represents that it has not executed a letter of intent with Luce Energy for the supply of 1 million tonnes of LNG and crude oil per year over a period of 15 years.

PGNiG Norway AS, a subsidiary of PGNiG SA, purchased a 10% interest in the PL 326 licence located in the Norwegian Sea from Statoil Petroleum. The agreement is pending approval by the Norwegian Ministry of Energy and Petroleum. Until such approval, Statoil will continue to hold 40% interest in the licence. Other interest holders are Norske Shell (50%), the operator, and Gaz de France SUEZ E&P Norge A/S (10%).

GAZ-SYSTEM S.A. and Polskie Górnictwo Naftowe i Gazownictwo SA wish to inform that natural gas supplies to domestic and industrial customers fully cover the current demand for the fuel.