PGNiG Upstream Norway has signed an agreement with A/S Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North Sea. Following the transaction, the PGNiG Group’s own gas production in Norway will increase to 0.9 bcm in 2021, nearly 30% above the previous forecast.
In the latest integrated report, the Capital Group of the Polish Oil and Gas Company placed great emphasis on the role of natural gas as a transitional fuel in the energy transformation in Poland and in Europe. The multimedia publication is available in English at www.pgnig2019.pl/en.
Toyota Motor Poland and Polish Oil and Gas Company (PGNiG) signed an agreement on cooperation in advancing hydrogen technology in Poland. A pilot hydrogen refuelling station will be built under the agreement.
A load of approx. 3000 cubic meters of LNG has arrived at the Klaipėdos Nafta reloading station. Since April 2020 the Polish Oil and Gas Company (PGNiG) has been the sole user of the facility. Already more than 100 tankers were loaded with liquefied natural gas for delivery to customers since then.
The complete generating unit at the Stalowa Wola CHP plant, comprising a gas turbine and a steam turbine, has been synchronised to the national power grid for the first time, with the synchronisation marking the start of operation of the 450 MW CCGT unit.
In the first half of 2020, the PGNiG Group saw highest-ever growth of its financial results. Its net profit and EBIT increased fourfold and EBITDA tripled year on year. The Group reported increased volumes of natural gas sales and higher revenue from sale of heat.
Polish Oil and Gas Company S.A. and its German subsidiary PGNiG Supply & Trading on 30.07.2020 sent a letter to the Düsseldorf Higher Regional Court expressing willingness to participate in the court proceedings regarding derogation from the application of the Third Energy Package’s provisions for the Nord Stream 2 as other parties of the proceedings. The procedure was initiated upon an appeal by Nord Stream 2 AG against unfavourable decision of the German energy market regulator (Bundesnetzagentur) of May 15, 2020.
Polish Oil and Gas Company (PGNiG) has successfully drilled another well on the Mielec – Bojanów fields. Together with the previous wellbore in the area, the Korzeniówek-2K appraisal well will ultimately add approximately 24 mcm per year to PGNiG’s natural gas output.
Work on the launch of production from the Duva field, in which PGNiG Upstream Norway has a share, has already reached the halfway point. The laying of underwater installations that will be used to extract hydrocarbons from this deposit has just finished.
Natural gas that is used to supply power to the Gina Krog platform in the North Sea will be replaced by electricity. Gas consumption for own needs in the Skarv field will also decrease. This is one of the ways in which oil companies operating on the Norwegian Continental Shelf want to reduce emissions associated with hydrocarbon production. PGNiG Upstream Norway is involved in the project.
Polish Oil and Gas Company has received the hundredth supply of liquefied natural gas at the LNG Terminal Of President Lech Kaczyński in Świnoujście. The jubilee load came from Qatar. In total, so far PGNiG has imported approximately 11 bcm of LNG after regasification.
The annex signed between PGNiG SA and Gazprom confirms the application of a new pricing formula, as set out in the arbitral award. The parties also agreed that by July 1st 2020 Gazprom would transfer approximately USD 1.5bn (PLN 6.2bn) into PGNiG’s account to refund the overpayments for gas supplied in 2014-2020.
Polish Oil and Gas Company (PGNiG) has received the first supply of liquefied natural gas delivered by sea at the LNG reloading station located in the sea port of Klaipėda, Lithuania. Since the beginning of April, when PGNiG became the sole user of the station, as many as over 50 LNG road tankers carrying a total volume of almost 1000 tonnes of LNG have been dispatched from the station.
By the end of this year Polish Oil and Gas Company (PGNiG) will present an updated strategy for the entire PGNiG Group. One new strategic initiative will be to build the segment of renewable energy sources. The Group may spend even as much as PLN 4bn on its creation and development.
Nearly PLN 13.8bn in revenue, with net profit of PLN 0.78bn and a 7% increase in natural gas sales, despite the challenging economic environment in Q1 FY20. The PGNiG Group reported solid financial results and improved its operating performance.
Polish Oil and Gas Company (PGNiG) has completed drilling and testing of the Paproć-66H production well in the municipality of Nowy Tomyśl. Digital oilfield, a modelling system, helped select and deploy the most efficient production solution. The planned annual production from the well is approximately 45m cubic metres of high-methane gas.
Production of crude oil and natural gas from a field within licence area PL460 in the North Sea started in March this year. Hydrocarbon reserves attributable to PGNiG Upstream Norway amount to approximately 3.3 mboe, of which approximately 3 million barrels are crude oil.
Starting from 2024, Polish Oil and Gas Company (PGNiG) will be able to import annually 8.3 bcm of natural gas after regasification via the President Lech Kaczyński LNG Terminal in Świnoujście following completion of a booking procedure for the regasification capacity that will be available to importers once the terminal has been extended.
The German energy market regulator – Bundesnetzagentur – declined granting a derogation for the Nord Stream 2 gas pipeline. It must therefore be subject to EU regulations. This is the success of Polish Oil and Gas Company (PGNiG SA) and its German subsidiary PGNiG Supply & Trading GmbH, which were involved within the derogation procedure.