PGNiG SA signed ticketing service contracts with eleven natural gas importers
With the ticketing service in place, the companies involved in natural gas imports to Poland no longer need to arrange the storage of mandatory stocks of natural gas on their own. Total volume of gas stocks kept by PGNiG on behalf of other companies amounts to nearly 370 000 MWh (about 33 million m3).
10 years of PGNiG in Norway: more and more licenses and good financial results
Over PLN 5.5 bn in sales revenue, 18 licenses and preparations for producing 2.5 bcm annually. Polish Oil and Gas Company (PGNiG) summed up a decade of its presence on the Norwegian Continental Shelf.
PGNiG purchased LNG from Norway
The cargo will be delivered by Statoil under a spot contract.
PGNiG ready to receive larger amount of LNG from abroad
Demand for gas in Poland and Central Europe is growing, which is reflected in the plans of Polish Oil and Gas Company (PGNiG). In order to increase the possibility of supplying more commodity to the region, the company reserved additional 35% of regasification capacity at the President Lech Kaczyński LNG Terminal in Świnoujście.
PGNiG Group reports stable growth in H1 2017
In the first six months of 2017, the PGNiG Group recorded about 15% year-on-year rise in the volumes of gas sold to external customers. Net profit increased by 65%, to almost PLN 2.1bn. The Group’s EBITDA came in at just under PLN 4.2bn for the first half of 2017, having increased 33% year on year. The first half year results are not weighed down by major impairments, in contrast to the same period last year, when impairment losses reduced consolidated EBITDA by over PLN 550m.
PGNiG has officially voiced a need for gas transmission capacity in the North-South Gas Corridor in the first phase of the Open Season procedure
Polish Oil & Gas Company has submitted its request in the first phase of the reservation procedure for gas transmission capacity to create a pipeline link between the Norwegian Continental Shelf deposits, Denmark and Poland.
PGNiG starts production of gas and crude oil from Gina Krog field in Norway
Located in the North Sea the Gina Krog field was brought on stream last Friday, at 17:00. PGNiG Upstream Norway is one of the four consortium partners, holding an 8% interest in the licence. The field’s recoverable reserves have been put at 218 million boe, the figure equal to last year’s total output from the Norwegian Continental Shelf.
Historic delivery of gas to Poland. PGNiG receives American LNG
Liquefied natural gas from Cheniere Energy has arrived at the President Lech Kaczyński LNG Terminal in Świnoujście. It is the first such delivery to Central and Eastern Europe. PGNiG plans to conclude more spot agreements.
World’s first International Centre of Excellence on Coal Mine Methane opened in Poland
Katowice, Poland, June 8, 2017 – The International Centre of Excellence on Coal Mine Methane in Poland was officially launched today, representing a milestone as the first of its kind in the industry. The expert institution operating under the auspices of the United Nations Economic Commission for Europe will contribute to the development of new methods of capturing and use of methane as a valuable energy source.
PGNiG delivers impressive results in first quarter 2017
In the first quarter of 2017, PGNiG reported a record-high EBITDA of PLN 2.77bn, up 16% year on year. During the period, PGNiG's revenue came in at PLN 11.65bn, up PLN 672m (6%) year on year. The Group also reported a strong increase in volumes of natural gas sales (up 11% y/y) and distribution (13% y/y).
On 19 May 2017 PGNiG SA submitted to European Commission its position on the commitments proposed by Gazprom in antitrust proceedings conducted by the EC.
PGNiG: The European Commission should fine Gazprom and create competitive conditions on the gas market
Polish Oil and Gas Company (PGNiG SA) presented its position on commitments submitted by Gazprom within the Commission's antitrust proceedings. The Polish company has indicated a long-standing violation of antitrust law by the Russian corporation and has proposed imposing a number of obligations on Gazprom.
Moody’s affirmed PGNiG’s Baa3 issuer rating with stable outlook
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.
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.
First LNG delivery from U.S. Supplier to Poland
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.
Polish gas wins a tender for the Ukrainian Ukrtransgaz
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
Fitch: PGNiG assigned with ‘BBB-‘ rating, stable outlook
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.
PGNiG increases involvement in Norway
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.
New PGNiG Group Strategy for 2017–2022
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.
PGNIG signed a strategic agreement with Qatargas
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.