The appraisal well flowed at a rate four times faster than during initial testing. Once connected to the production facilities, the well will add approximately 140,000-170,000 m3 to PGNiG’s daily natural gas output in Pakistan (around 124,000–148,000 m3 of high-methane equivalent). Total production from PGNiG’s Pakistani fields will reach 1 mcm of natural gas per day (approximately 850,000 m3 of high-methane equivalent).
A fifth well in the Rehman field will allow the company to increase its natural gas output. PGNiG is currently producing almost 0.5 mcm of natural gas per day from Pakistani fields, with a total of over 300 mcm extracted since mid-2013. All gas output is sold on the local market.
With the positive result, capacity booking procedure for the Norwegian Corridor is finally confirmed. The corridor will bring natural gas from Norwegian continental shelf and the North Sea to Poland.
The Polish Oil and Gas Company Group (PGNiG) has signed a five-year contract for LNG supply sourced from Sabine Pass LNG Terminal, USA, with Centrica LNG Company Limited (Centrica).
For the nine months of 2017, the Group delivered improvement of all key financials, earning PLN 2.5bn in net profit.
PGNiG SA continues its gas price review proceeding against PAO Gazprom and OOO Gazprom Export in the Stockholm Arbitration Court, for gas delivered, since November 1, 2014, under the long-term gas supply contract of September 25th 1996.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.