Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) and Polish Geological Institute − National Research Institute (PIG-PIB) are working on an innovatory method of extracting methane from coal deposits. If production tests yield positive results, the mining industry will have a new source of income. Moreover, methane risk at coal mines will be mitigated and methane emissions will be reduced.
The Management Board of PGNiG SA has approved a new Strategy for Polska Spółka Gazownictwa sp. z o.o. for 2016–2022, taking effect on July 1st 2016. Once the new strategy is implemented, PSG will become the National Gas Distribution System Operator within the PGNiG Group.
“We are upholding our decision to open an LNG trading office in London. Currently, we have reserved 65% of the capacity of the LNG terminal in Świnoujście. Thus, PGNiG SA has become a player of the global LNG market. We want to fully leverage the resulting opportunities,” said Piotr Woźniak, President of PGNiG SA.
The first LNG shipment bought on the spot market was delivered to the President Lech Kaczyński LNG Terminal on June 25th 2016. Approximately 140,000 cubic metres of LNG (equivalent to 84 mcm of grid gas) was supplied from the Norwegian port of Melkøya by the Arctic Princess vessel. The delivery from Statoil is the effect of proceedings carried out by the PGNiG Group in May.
Polskie Górnictwo Naftowe i Gazownictwo SA has signed contracts with EDF Gaz Toruń Sp. z o.o. and EDF Toruń S.A. for the supply of gas to EDF’s new CHP plant in Toruń.
On June 17th 2016, the Al-Nuaman ship delivered 206 thousand cubic metres of LNG from Qatar to PGNiG SA, an amount equivalent to 124 million cubic metres of grid gas. The consignment arrived at the President Lech Kaczyński LNG Terminal in Świnoujście.
As early as in June, PGNiG will receive LNG deliveries from Qatar and Norway. The first cargo of LNG under the Qatar contract is expected at the Świnoujście Terminal on June 17th 2016. Another delivery of LNG, purchased under a spot contract with Statoil, is scheduled for June 25th 2016.
“Our subsidiary PGNiG Upstream International has been awarded an interest in an exploration licence on the Barents Sea shelf in Norway,” Piotr Woźniak, President of PGNiG, said during the European Economic Congress in Katowice.
The PGNiG Group reported a 3% increase in EBITDA year on year, from PLN 2.33bn to PLN 2.39bn, with operating expenses down 16%. Net profit of the Group was PLN 1.39bn, an 11% improvement year on year.
The PGNiG Group is considering plans to order five spot cargoes of LNG in June and July 2016. The spot cargoes would be received independently of the regular deliveries made under the long-term contract with Qatargas, scheduled to start in the second half of July 2016.
PGNiG TERMIKA S.A. purchased 100% of the shares in Przedsiębiorstwo Energetyki Cieplnej S.A. of Jastrzębie-Zdrój for PLN 190.4m. “Today’s transaction will increase our share in the district heating market, which is in line with the objectives of the PGNiG Group’s strategy,” said Piotr Woźniak, PGNiG S.A.’s Chief Executive Officer.
On April 26th 2016, an agreement to launch operations of Polska Grupa Górnicza (PGG) was signed. The investors will engage with PGG on market terms and will closely monitor the implementation of the company’s business plan. Analyses have been carried out that indicate that the investment will yield positive returns.
Marek Woszczyk has been appointed the new CEO of PGNiG Upstream International AS.
The President of the Energy Regulatory Office (URE) has approved new gas tariffs for PGNiG SA and PGNiG Obrót Detaliczny. The average price of gas to be paid by wholesale customers (resellers and end consumers with an annual consumption in excess of 25 mcm) has been reduced by approximately 9.5% in the case of high-methane gas and 8.3% in the case of nitrogen-rich gas. Retail gas prices to be charged by PGNiG Obrót Detaliczny sp. z o.o have been lowered by an average of 5.5%.
In 2015, the PGNiG Group earned over PLN 2.1bn in net profit. This solid result was achieved despite record low prices of crude oil and gas globally. Contributors to the net profit included continued low costs of gas and strong operating performance of the Distribution and Generation segments.
On February 25th 2016, the General Meeting of EuRoPol GAZ S.A., which manages the Polish section of the Yamal gas pipeline, appointed − on PGNiG S.A.’s recommendation − Mr Piotr Tutak as President of the Management Board and Mr Krzysztof Rogala as its Second Vice-President.
During its meeting on February 10th 2016, the Supervisory Board of PGNiG SA closed the qualification procedure in which it assessed candidates to the Company’s Management Board.
On February 8th 2016, the Al Nuaman vessel, carrying the second supply of liquefied natural gas (LNG) for the commissioning of the LNG terminal in Świnoujście, reached the port.
