The Arbitration Court in Stockholm has closed evidentiary proceedings and has formally set the date for its ruling on the case brought by PGNiG against Gazprom in relation to the terms of gas supplies and the procedure for changing the gas price under the Yamal contract.
The upgrade by Fitch Ratings underscores PGNiG’s efforts to diversify gas import sources and directions, while developing its own hydrocarbon production capacity.
The PGNiG Group has established a venture capital vehicle to finance innovative energy projects, looking to invest approximately PLN 100m over the next six years.
PGNiG has signed an agreement with ERU Management Services providing for joint gas exploration and production operations in the western part of Ukraine, close to the Polish border.
For the period of five years, Polish Oil and Gas Company (PGNiG) will be the sole user of the small-scale LNG reloading station in Klaipeda. For PGNiG, this is an important step in building competence and position on this market in Central and Eastern Europe and the Baltic Sea basin. The contract with Klaipedos Nafta (KN) was signed today in Klaipeda and actual operations will start from April 2020.
The first phase will involve geophysical survey to be performed using 3D seismic imaging. The work is due to start in December.
The development of the field in the Norwegian Sea enters the second phase. Additional three production wells will be drilled next year. This means that starting from 2020 the extraction of natural gas from the Ærfugl deposit will be greater.
Polskie Górnictwo Naftowe i Gazownictwo SA announces that on November 15th 2019, having obtained the required corporate approvals, it notified PAO Gazprom and OOO Gazprom Export of its intent to terminate the contract for purchase and sale of natural gas to the Republic of Poland, concluded on September 25th 1996 (the Yamal Contract), with effect from December 31st 2022.
The PGNiG Group delivers Q1-Q3 2019 revenue of PLN 29.65bn and EBITDA of PLN 3.9bn.
PGNiG Upstream Norway bought 10 percent shares in the PL636 and PL636B licenses in the North Sea from Pandion Energy, thus increasing its ownership in the Duva field to 30 percent.
The PGNiG Annual Report received the First Main Award in the 'The Best Annual Report' competition by the Institute of Accounting and Taxes (IRiP) in the 'Enterprises' category for 2018. PGNiG also received awards for the best utility value of the report for shareholders and investors, and for the best application of IFRS / IAS. The awards have already been granted for the fourteenth time.
Based to preliminary estimation, the recoverable resources of the Shrek discovery is in the range between 19 and 38 MMboe (million barrels of oil equivalent), as confirmed by the Norwegian Oil Directorate (NPD).
As every year, before the start of the winter season, Polish Oil and Gas Company (PGNiG) has completely filled the capacity of underground gas storage facilities. The company is ready to increase demand for gas in the winter.
The American Federal Energy Regulatory Commission (FERC) issued a permit on September 30, 2019 for Venture Global LNG to build an LNG Plaquemines export terminal and a gas pipeline between the terminal and the interstate gas network. PGNiG will receive liquefied natural gas from this terminal from 2023.
PGNiG Supply & Trading (PST), a member of the Polish Oil and Gas Company Group (PGNiG), becomes the exclusive recipient of natural gas produced in Norway by LOTOS Exploration & Production Norge (LOTOS Norge), a LOTOS Group company engaged in exploration and production activities on the Norwegian Continental Shelf.
Polish Oil and Gas Company (PGNiG) and Startup Hub Poland have invited to Poland the third group of foreign startups offering innovative solutions for enterprises from the energy sector. The best can count on financial support and the opportunity to implement their projects in Poland. PGNiG is the strategic partner of the project.
On September 10th, 2019, the Court of Justice of the European Union, on an application from the governments of Poland, Lithuania and Latvia, annulled the European Commission’s Decision No. C(2016) 6950 of October 28th 2016 enabling the monopolisation of access to the OPAL gas pipeline. The Court found that "the contested decision was adopted in breach of the principle of energy solidarity". It confirmed the arguments of Poland that the EC, by issuing the decision, violated the principles of the European Union by not examining its impact on Poland's energy security.
On August 30th, PGNiG Upstream Norway, a PGNiG Group company, started drilling an exploration well in licence area PL838 (the Shrek prospect) on the Norwegian Continental Shelf, for the first time in the role of the operator.
Polish Oil and Gas Company (PGNiG) has purchased a cargo of liquefied natural gas from the US, and then – following regasification – sold the natural gas to Energy Resources of Ukraine (ERU). Thanks to the consistent expansion of the LNG supply portfolio PGNiG is able to offer natural gas to more customers.