The President of the Energy Regulatory Office (URE) has approved new gas tariffs for PGNiG S.A. and PGNiG Obrót Detaliczny Sp. z o.o. For wholesale customers (customers that buy gas for resale and end users with annual gas consumption exceeding 25 mcm), the average gas price was reduced by 6.1%–6.6%. In the case of retail customers (customers using gas for own needs), the average gas price fell by 2.1%–3.3%.
Doha – Qatar, 12 December 2015: The vessel with first ever delivery of Liquefied Natural Gas (LNG) cargo arrived on December 11th, 2015, to the Polish LNG Receiving Terminal in Świnoujście. Qatargas Operating Company Limited delivered the cargo. PGNiG (Polish Oil & Gas) provided its assistance as an intermediary in LNG delivery according to the agreement with the Polskie LNG (Polish LNG) - the receiver of the resource used for commissioning of the facility.
On December 11th 2015, the Supervisory Board of PGNiG S.A. removed Mariusz Zawisza from his position as President of the Management Board, and Zbigniew Skrzypkiewicz and Jarosław Bauc from their positions as Vice-Presidents of the Management Board. Piotr Woźniak – Member of the PGNiG Supervisory Board, former Minister of the Economy, former Vice-Minister of the Environment and Chief National Geologist – was appointed acting President of the Company’s Management Board for the period from December 11th 2015 to March 11th 2016.
Polskie Górnictwo Naftowe i Gazownictwo SA has opened its first natural gas production facility in Pakistan. The new facility will provide the basis for further work to fully develop the Rehman and Rizq fields, which will result in an eightfold increase in gas production from the Kirthar licence area.
The first supply of liquid natural gas (LNG) to the LNG terminal in Świnoujście will be delivered by Q-Flex vessel Al Nuaman. The LNG tanker was loaded in the Qatari port of Ras Laffan on November 19th 2015 and left for Poland during the night.
In Q1−Q3 2015, the PGNiG Group posted almost PLN 2.16bn in net profit, similarly to the corresponding period in 2014, despite lower prices of crude oil and natural gas. This strong performance was attributable chiefly to the consistent pursuit of the Efficiency Improvement Programme in all Group companies.
On October 22nd 2015, Polskie Górnictwo Naftowe i Gazownictwo SA, Elektrownia Puławy Sp. z o.o. and Grupa Azoty Zakłady Azotowe Puławy S.A. executed a trilateral agreement to enter into and conduct negotiations of a contract for the supply of gas fuel to the Puławy Power Plant.
Polskie Górnictwo Naftowe i Gazownictwo SA and Qatar Liquefied Gas Company Ltd have signed a new supplementary agreement to the LNG supplies contract of June 29th 2009. Pursuant to the agreement, PGNiG and Qatargas have changed the terms on which the long-term contract will be performed in the first six months of 2016.
On October 19th 2015 in Warsaw the Extraordinary General Meeting of PGNiG SA, acting at the request of the State Treasury, appointed Mr Grzegorz Nakonieczny to the Company’s Supervisory Board. Ms Agnieszka Woś was removed from the Supervisory Board.
PGNiG share price at an all-time high. On October 9th – after the opening of the day’s trading – the PGNiG share price reached its all-time high of PLN 7.03. Its previous high during a trading session was PLN 6.98, recorded on June 22nd 2015.
By drilling the Miłosław 4K well, Polskie Górnictwo Naftowe i Gazownictwo SA has confirmed a new gas discovery near the town of Miłosław, county of Września, province of Poznań.
Liquefied natural gas for the purposes of Świnoujście LNG terminal cool-down and start-up operations will be supplied by the biggest producer of LNG in the world and operator of the greatest methane carrier fleet – Qatargas. Polish Oil and Gas Company acting as an intermediary in gas supply to the terminal under the Contract with Polskie LNG has reached an agreement with Qatari enterprise.
In the first half of 2015, Polskie Górnictwo Naftowe i Gazownictwo SA drilled 27 exploratory, core, appraisal and production wells within its licence areas in the provinces of Poznań and Rzeszów.
Despite declining oil prices, the PGNiG Group earned a net profit of nearly PLN 1.9bn in H1 2015, up 23% year on year. Such strong performance was attributable chiefly to the consistent pursuit of the Efficiency Improvement Programme in all Group companies.
PGNiG Upstream International AS, a subsidiary of PGNiG SA, executed a USD 400m credit facility agreement with eight banks (Societe Generale, BNP Paribas, ING, HSBC, Citibank, CACIB, SEB and Natixis). The primary use of proceeds from the facility will be early payment of some of PUI’s outstanding debt, including the entire debt contracted to finance acquisition of assets from Total E&P Norge in 2014.
Polskie Górnictwo Naftowe i Gazownictwo SA and Central European Petroleum GmbH (CEP) signed agreements on joint operations in a designated part of the Lubben licence area located in the state of Brandenburg in Germany. As part of the arrangement, the companies will carry out crude oil and natural gas exploration, appraisal and production operations. PGNiG SA’s financial commitment as part of the project is expected to exceed EUR 10m by the half of next year.
Polskie Górnictwo Naftowe i Gazownictwo SA and ORLEN Upstream have signed a Joint Operating Agreement. The companies aim to jointly conduct analytic and research works in eight concession blocks in Podkarpackie Voivodeship.
The President of the Energy Regulatory Office (URE) has approved a new wholesale gas tariff for PGNiG SA. The new tariff provides for reduced gas fuel prices.
On July 16th 2015, Gas Assets Management Sp. z o.o., a subsidiary of PGNiG SA, closed the acquisition of a 36.17% interest in GAS-TRADING SA from PHZ BARTIMPEX SA.
PGNiG Upstream International (PGNiG UI), a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA and a partner in the Gina Krog production licence, has concluded the drilling of an exploratory well on the Norwegian shelf. The results of preliminary geological and reservoir analyses indicate the possible presence of hydrocarbon accumulations with recoverable reserves in the range 6.29m−12.6m boe.
