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13.09.2012
PGNiG Norway and PST sign a contract on sale of gas produced from the Skarv field
PGNiG Norway, a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA, will sell its share in natural gas output from the Skarv field to PGNiG Sales & Trading. The term of the gas supply contract, valued at approximately EUR 1.3bn, is ten years.
11.09.2012
The PGNiG Management Board's position on the UOKiK report "Directions for the Development of Competition and Consumer Protection on the Domestic Gas Market"
The report "Directions for the Development of Competition and Consumer Protection on the Domestic Gas Market" prepared by the UOKiK (Office of Competition and Consumer Protection) is an important contribution to the debate on deregulation of the Polish gas market. The report contains an accurate description of the current market conditions and outlines the main challenges on the path towards liberalisation.
05.09.2012
Gas trading losses cited by Standard & Poor’s as the key reason behind PGNiG rating downgrade
In reference to an update published by the rating agency Standard & Poor's Financial Services on September 5th 2012 to announce that PGNiG credit rating was lowered from "BBB+" to "BBB" and placed on CreditWatch with negative implications, the Management Board of PGNiG SA asserts that the rating downgrade was caused by factors largely beyond the Company's control. These primarily include the rising cost of gas imports, coupled with unfavourable PLN exchange rate movements, which the tariff approved by the President of the Energy Regulatory Authority (URE) failed to offset.
29.08.2012
PGNiG Management Board has adopted a resolution on the Voluntary Termination Programme negotiated with the Union Coordination Commission
On August 28th 2012, the Management Board of Polskie Górnictwo Naftowe i Gazownictwo adopted a resolution concerning the Voluntary Termination Programme. Its adoption was a consequence of the Agreement concerning the process of PGNiG's reorganisation, concluded on August 24th 2012 between the PGNiG Management Board and PGNiG's Union Coordination Commission.
Joanna Zakrzewska,
PGNiG Press Officer
27.08.2012
Agreement concerning Voluntary Termination Programme for employees of PGNiG SA
The two-day meeting between representatives of the PGNiG Management Board and PGNiG SA's Union Coordination Commission, devoted to issues relating to the process of PGNiG's reorganisation, ended on August 24th 2012 with the Parties signing of an Agreement concerning the adoption of a draft Voluntary Termination Programme for Employees of PGNiG SA.
23.08.2012
PGNiG reports loss on gas sales in H1 2012
In H1 2012, the PGNiG Group recorded a PLN 17m loss, relative to a PLN 1bn profit reported for the corresponding period of the previous year. The loss was incurred despite a 28% growth in revenue, to PLN 14.8bn. It was driven by factors over which the Company had limited control, including primarily the rising cost of gas imports, coupled with adverse movements in PLN exchange rates, which the tariff approved by the President of the Energy Regulatory Authority (URE) and effective since March 31st 2012 failed to offset.
16.08.2012
PGNiG launches production tests on newly discovered deposit
By lighting a flare on the Komorze-3K well, Polskie Górnictwo Naftowe i Gazownictwo SA has launched production tests on the natural gas deposit in Greater Poland.
30.07.2012
Floatation of PGNiG's notes on the Catalyst market
On July 30th 2012, the notes issued in June by Polskie Górnictwo Naftowe i Gazownictwo SA were floated on the Catalyst market, on the multilateral trading facility operated by BondSpot. This is the largest Polish non-bank issue to have been listed on that market.
27.07.2012
Gas shows encountered by PGNiG's well in Greater Poland
Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG) has found gas shows in the Komorze -3K deep exploration well being drilled in Greater Poland.
25.07.2012
Information campaign on shale gas production
Polskie Górnictwo Naftowe i Gazownictwo launched a series of educational workshops on shale gas. The first edition of the workshops was held in the Province of Gdańsk. Workshop sessions for members of the media were held in Gdańsk and Olsztyn on July 11th and July 13th 2012, respectively, whereas the workshop sessions for local government representatives were organised in Krokowa and Starogard Gdański on July 19th and July 20th 2012, respectively.
On July 25th 2012 the Company also started publishing a monthly newsletter on shale gas-related issues.
19.07.2012
New gas discovery made by PGNiG on the Norwegian Continental Shelf
PGNiG Norway AS, a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG), and its licence partners have made a new gas discovery in the Snadd Outer prospect, within the PL212E licence area. The discovery lies close to the Snadd North gas discovery and borders the Skarv oil and gas field, which is being prepared for production launch.
19.07.2012
PGNiG SA reports 8 billion cubic metres of gas sold in H1 2012
Polskie Górnictwo Naftowe i Gazownictwo SA sold 8 billion cubic metres of gas in the first six months of 2012, compared with 7.6 billion cubic metres in the corresponding period of the prior year. The volume of natural gas produced in H1 2012 totalled 2.2 billion cubic metres and remained flat year on year.
04.07.2012
Five companies execute shale gas exploration agreement
The framework agreement executed on July 4th 2012 between five Polish companies, i.e. PGNiG, ENEA, KGHM Polska Miedź, PGE and TAURON Polska Energia, will help accelerate shale gas exploration work. In accordance with the agreement, estimated expenditure on gas exploration, appraisal and production at the first three pad locations (Kochanowo, Częstkowo and Tępcz) will amount to PLN 1.72bn. First gas produced as part of the joint project may be expected to flow in 2016.
19.06.2012
PGNiG SA has issued notes for a total amount of PLN 2.5bn
On June 19th 2012, Polskie Górnictwo Naftowe i Gazownictwo SA issued notes for a total amount of PLN 2.5bn under the Note Issuance Programme of May 22nd 2012.
13.06.2012
PGNiG SA to issue domestic notes, closure of the book building process
Polskie Górnictwo Naftowe i Gazownictwo SA is planning to carry out the first issue under its new domestic note issuance programme in the amount of PLN 2.5bn. On June 13th 2012, the book building process for the issue was closed.
06.06.2012
Annual General Meeting of PGNiG SA. Granting discharge to members of the Management Board in respect of their performance of duties
On June 6th 2012, the Annual General Meeting of PGNiG SA approved the Company's and the Group's financial statements and the Directors' Reports on the Company's and the Group's operations in 2011. The General Meeting also approved the PGNiG Management Board's recommendation to contribute the entire profit for 2011 to statutory reserve funds.
05.06.2012
Successful installation of risers at the Skarv field
PGNiG Norway, a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA, was notified by BP, the operator of the Skarv project, of successful connection of all 13 risers to the FPSO vessel, enabling the launch of oil and gas production from the Skarv field.
04.06.2012
Three new members have joined the group of the Signatories of the Declaration on Sustainable Development in the Energy Sector in Poland.
For the fourth time those interested in matters relating to sustainable development and responsible business in the energy sector met at a conference held on the initiative of Polskie Górnictwo Naftowe i Gazownictwo SA as part of the Responsible Energy series. The key moment of the conference, held on May 31st, was the signing of the Declaration on Sustainable Development in the Energy Sector in Poland by representatives of another three companies: Aurelian Oil & Gas Poland, Strzelecki Energia Sp. z o.o. and Talisman Energy Polska. Thus the group of Signatories of the Declaration came to number 23 members.
31.05.2012
Social dialogue at the Responsible Energy Conference
Aurelain Oil & Gas Poland, Talisman Energy Polska and Strzelecki Energia Sp. z o.o. are the three new signatories to the Declaration on Sustainable Development in the Energy Sector in Poland, initiated by Polskie Górnictwo Naftowe i Gazownictwo four years ago. The ceremony of signing the document was held during the Responsible Energy Conference organised by PGNiG SA in Warsaw on May 31st 2012.
The Conference was held under the honorary patronage of Mr Mikołaj Budzanowski, Minister of State Treasury, and Mr Marek Woszczyk, President of the Energy Regulatory Office.
30.05.2012
Towards deregulation of the Polish gas market – PGNiG's workshops dedicated to the Gas Release Programme (GRP)
Over 200 persons representing both Polish and foreign companies attended PGNiG's workshops dedicated to the Gas Release Programme, which took place on May 28th 2012.
