GAZ-SYSTEM S.A. and Polskie Gornictwo Naftowe i Gazownictwo SA would like to state that consumers in Poland are receiving natural gas in line with their needs. The decrease of natural gas pressure in deliveries from Belarus through cross-border point in Vysokoye was noticed in the afternoon hours on June 23^rd 2010. After 5 p.m. local time the pressure returned to the usual level. As a result, the amount of natural gas delivered via Vysokoye  cross-border point will reach the level stated in the contract within the next twenty four hours.  

On June 17th in Warsaw, another three companies: Fortum Power and Heat Polska, Lotos, and Polskie Sieci Elektroenergetyczne Operator signed a Declaration on Sustainable Development in the Polish Power Sector during the Responsible Energy conference organised by Polskie Górnictwo Naftowe i Gazownictwo SA and PricewaterhouseCoopers, a consultancy firm.  

On June 16th 2010, Grupa LOTOS S.A. and Polskie Górnictwo Naftowe i Gazownictwo entered into an agreement on supply of natural gas to the Gdańsk refinery. Its estimated value over the period of five years amounts to more than PLN 2.2bn.

EUROGAS General Assembly in Warsaw, 11 June 2010 hosted by the Polish Oil and Gas Company elects Mr. Jean-François Cirelli, Vice Chairman and President of GDF SUEZ, as President of EUROGAS

During General Assembly of the European Gas Industry Union Eurogas, held in Warsaw, Mr. Sławomir Hinc, PGNiG's FCO was elected to the Eurogas Governing Board.

On June 10th 2010 Polskie Górnictwo Naftowe i Gazownictwo executed an agreement with six banks (Pekao SA, ING Bank Śląski SA, PKO BP SA, Bank Handlowy w Warszawie SA, Societe Generale SA and BNP Paribas SA, Polish Branch) concerning a bond issue programme with a value of up to PLN 3 billion ("the Programme").

PGNiG Norway AS (a wholly-owned subsidiary of PGNiG) and its license partners have discovered new gas deposits on the Norwegian Continental Shelf. The size of the Snadd North deposit is estimated at  9-16bn cubic metres of natural gas. Its development is expected to start as early as in 2011.  

The above decision has been made in connection with certain strategic projects pursued by PGNiG SA, which need to be completed by 2015 and which require substantial capital expenditure. Top priorities include the completion of the projects involving construction of new and expansion of the existing underground gas storage facilities, as well as the construction of the LMG natural gas and crude oil mine. In addition to their vital role in ensuring a much needed improvement of Poland's energy security, the projects are also bound to significantly enhance the Company's value.  

On May 17, 2010, the President of the Energy Regulatory Office approved the new Tariff for supply of gas fuels. The Tariff will be effective from June 1, 2010 to November 30, 2010. Under the new Tariff, the price of high-methane gas will increase on average by approximately 4.8%. In other words, gas monthly bills paid by those households which use the fuel for cooking purposes will rise on average by PLN 0.71.

In Q1 2010, the PGNiG Group posted a net profit of PLN 988m, while in Q1 2009 the Group recorded a PLN 399m loss. Sales revenue reached over PLN 6.6bn, having grown by 4% year on year.  

In Q4 2009, the PGNiG Group reported a net profit of PLN 1,289m vs. a PLN 374m loss in Q4 2008. The results confirm previously reported consistent improvement of the Group's financial standing, and exceed the market expectations. Sales revenue is in line with the expectations, while net profit is almost 43% above the market consensus.

PGNiG SA and Petrolinvest S.A. have decided to focus their strategic cooperation on the EmbaYugNeft licence and on the implementation of future exploration and production projects in Kazakhstan.  

On 10 February 2010, the Management Board and then the Supervisory Board of PGNiG SA accepted a package of arrangements made in the form of a trilateral agreement between PGNiG SA, OAO Gazprom Export and EuRoPol GAZ.  

The Norwegian Ministry of Petroleum and Energy awarded an operator status on the Norwegian Continental Shelf to PGNiG Norway AS. The decision of the Norwegian Ministry will allow PGNiG Norway to assume a leading role in projects pertaining to the exploration and development of offshore oil and gas deposits. The operator status confirms that the experience and resources of the PGNiG Group conform to the highest international standards of the oil industry.

At 10:00 p.m. on 1 February 2010, PGNiG SA will lift temporary limits on natural gas supplies to ZCh Police. The decision was dictated mainly by increasing temperatures and the reduced use of gas by individual customers stemming from them. At current temperatures, demand for gas in Poland oscillates around 50-54 million cubic metres per day.

  Polskie Górnictwo Naftowe i Gazownictwo SA (Polish Oil and Gas Company) in cooperation with Warsaw University of Technology, Wrocław University of Technology and the Institute of Molecular Physics at the Polish Academy of Sciences are planning to establish International Helium Cryogenics Centre at the Odolanów Branch of PGNiG SA. The joint project is going to be of scientific and research nature, and also of business nature and constitutes an example of cooperation between industry and science. The main tasks of the Centre shall comprise conducting research and development activities, rendering services within the scope of cryogenic equipment and materials.