News - PGNiG Upstream Norway AS

16.05.2017

In its ratings rationale, Moody’s indicated strong financial standing of GK PGNiG, stable cash flows stemming from Distribution and Storage segments’ activities, as well as the Group’s dominant position on the Polish natural gas market.

27.04.2017

We inform that in spite of recent news, PGNiG S.A. did not send to the European Commission any request for initiation of a separate/second antitrust proceeding against Gazprom.

26.04.2017

Polish Oil & Gas Company (PGNiG) will bring the first delivery of liquefied natural gas from U.S. Supplier to Poland. LNG will be delivered by Cheniere Energy. The transaction was overseen by PGNiG trading office branch in London.

25.04.2017

Joint success of PGNiG and ERU Trading: Polish gas wins a tender for the Ukrainian Ukrtransgaz. ERU Trading in cooperation with PGNiG SA to deliver 218 million cubic meters of gas from Poland to the Ukrainian storage and transmission network operator Ukrtransgaz in 2017

21.04.2017

Fitch Ratings agency assigned Polish Oil & Gas Company (PGNiG) with a Long-Term Foreign Currency Issuer Default Rating of ‘BBB-‘ with stable outlook and a Long-Term Local Currency IDR on the same level. PGNiG was also assigned a National Long-Term rating of ‘A(pol)’ with stable outlook.

23.03.2017

PGNiG Upstream Norway, wholly owned subsidiary of PGNiG SA (Polish Oil and Gas Company), purchased share in the Storklakken discovery from Aker BP ASA. Transaction is a part of implementation of PGNiG’s strategy and will allow an increase of hydrocarbon production outside Poland.

14.03.2017

Capex in excess of PLN 34bn, cumulative EBITDA of approximately PLN 33.7bn, and over PLN 680m to be spent on R&D&I are among the key objectives of the new PGNiG strategy. The Group also intends to increase its production capacities in Norway, step up expansion of Poland’s gas distribution network, and increase the volume of gas sales on foreign markets.

14.03.2017

Polish Oil and Gas Company (PGNiG) today announced the signing of a side agreement to the existing Sale and Purchase Agreement (SPA) with Qatargas, the World’s Premier Liquefied Natural Gas Company.

08.03.2017

Year on year, the net profit figure represents a 10% improvement. EBITDA amounted to PLN 5.97bn, with contribution of the Trade and Storage segment having more than doubled on the year before. Higher number of gas system connections and larger sales of heat contributed to solid results in Distribution and Generation segments.

01.03.2017

Polish gas giant becomes a new member of IOGP – an association that serves as the voice of the global upstream industry. PGNiG enters a group that comprises key industry players as well as national and international associations.

08.02.2017

The three-year contract with an extension option for further three years can be valued at PLN 1.4 bn. By 2023 total volume of gas supply can reach 1.6 bcm.

07.02.2017

In response to the expectations of companies involved in natural gas imports to Poland, PGNiG is introducing a ticketing service. As part of the service PGNiG will keep mandatory stocks of natural gas on behalf of the Customers according to the applicable Polish regulations.

02.02.2017

Polish Oil and Gas Company Group (PGNiG) has opened a LNG trading office in London. This way the group becomes one of the players of the LNG global market. The office is expected to become fully operational by the end of Q1 2017.

20.01.2017

Polish Oil and Gas Company PGNiG has obtained interests in two more exploratory and production licenses in the Norwegian Sea as well its first production license in Pakistan. The annual production from the PGNiG resources on the Norwegian Continental Shelf in 2016 amounted to 0.51 bcm, while the production in Pakistan can raise fivefold with the production license for the Rehman field.