Shale gas exploration was the focus of the educational workshop entitled PGNiG - Local governments, "Markowola - a year after the hydraulic fracturing. Shale gas and the environment", organised by PGNiG SA on July 18th 2011 in Zwola.

Polskie Górnictwo Naftowe i Gazownictwo SA has updated its Group's strategy until 2015, setting shareholder value growth and further development of PGNiG as an energy conglomerate as its overriding strategic objectives. This strategy will be implemented taking into consideration the need to ensure long-term security of uninterrupted supply of natural gas to the domestic market.

Regarding numerous questions about our licence to explore for conventional natural gas in the vicinity of Kutno, estimated gas resources in the area may amount to approx. 100 billion cubic metres. However, the forecasts of the Kutno prospect's potential may only be confirmed after several wells have been drilled.

Polskie Górnictwo Naftowe i Gazownictwo SA entered into a contract with Control Process SA for the construction of surface gas infrastructure at the Kosakowo cavern storage facility in Kosakowo (KPMG Kosakowo). The value of the contract is PLN 127m.

Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG SA) has just signed two agreements under which natural gas will be supplied to Poland via the cross-border points in Cieszyn (on the Polish-Czech border) and Lasów (on the Polish-German border).  

The companies providing geophysical, geological and exploration services significantly contributed to the slight improvement of the PGNiG Group's financial performance in Q1 2011. The Group's net profit grew 3%, to PLN 1.02 billion in Q1 2011, compared with PLN 996 million in the corresponding period of 2010, while the operating profit fell 4% year on year, to PLN 1.18 billion. The operating result deteriorated due to the lower margin on gas sales. In the current market environment this trend is likely to continue into the next quarters, adversely affecting the Group's financial performance.

On April 20th 2011, the Annual General Shareholders Meeting of Polskie Górnictwo Naftowe i Gazownictwo SA reappointed the Company's current Supervisory Board members to serve for another three-year term of office.

On April 20th 2011, the Annual General Shareholders Meeting of Polskie Górnictwo Naftowe i Gazownictwo SA granted discharge to all members of the Company's Management Board and Supervisory Board in respect of their performance of duties in 2010, and made a decision concerning distribution of the net profit for the financial year 2010.

PGNiG Norway AS, a subsidiary of PGNiG SA, has been awarded interests in two new exploration and production licences on the Norwegian Continental Shelf. The licences have been awarded by the Norwegian Ministry of Hydrocarbons and Energy in the 21st licensing round. As a result, PGNiG SA now holds interests in ten licences on the Norwegian Continental Shelf.

On April 15th 20011, Polskie Górnictwo Naftowe i Gazownictwo SA sold its entire equity interest in Zakłady Azotowe w Tarnowie-Mościcach for PLN 148m, or PLN 37 per share.

PGNiG SA was acclaimed as the most socially responsible business from the fuel, energy and production sector and won honours as a CSR leader among Polish companies. What is more, another member of the PGNiG Group - Górnośląska Spółka Gazownictwa - was recognised as one of the sector's CSR leaders, securing the third place. The second place in that category was taken by PKN Orlen.

Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG SA) is completing preparations to produce oil and gas from the Skarv field on the Norwegian Continental Shelf (NCS). In early May 2011, a floating production, storage and offloading (FPSO) vessel will arrive at the drilling site. The FPSO is the world's largest unit of this type operating in difficult weather conditions. Production is planned to commence in the second half of this year, and PGNiG SA will be the first Polish company engaged in commercial oil and gas production abroad.

In Q4 2010, the PGNiG Group's net profit fell 15%, to PLN 1.1bn, from PLN 1.3bn in Q4 2009, on the back of a 12 pp decline of the margin on high-methane gas sales between the two quarters caused by an increase in the unit purchase price of of imported gas. Net profit for the entire 2010 was PLN 2.46bn, up on PLN 1.24bn in 2009. One of the factors contributing to the growth were the record-high volume of gas sales.

Tauron Polska Energia SA and Polskie Górnictwo Naftowe i Gazownictwo SA are aiming to build Poland's largest combined heat and power plant to be located in the town of Stalowa Wola. On March 11th 2011, the two companies signed a set of agreements sanctioning the project. Estimates place the project's value in the range of PLN 1.9bn.

Polskie Górnictwo Naftowe i Gazownictwo SA has joined the Founding Members of London Benchmarking Group Poland (LBG Poland), the only representative office of LBG International in Poland, which offers one of the most widely used and reliable methodologies for management, measurement and reporting the impact of CSR efforts worldwide.

Polskie Górnictwo Naftowe i Gazownictwo SA has been included in the group of companies standing out for clarity with which they present their CSR efforts on corporate websites.  

Polskie Górnictwo Naftowe i Gazownictwo SA has again been included in the elite group of socially responsible companies listed in the RESPECT Index. On January 25th 2011, for the second consecutive time, the Warsaw Stock Exchange announced a list of companies included in the RESPECT Index.