Management Board approves gas deliveries contract

Polskie Górnictwo Naftowe i Gazownictwo SA announces that on 12 May 2009, the Management Board of the company resolved to approve the terms and conditions for natural gas deliveries set forth in the natural gas sales contract between PGNiG and the Russian OOO Gazprom Export. The subject of the contract is the delivery of 1.024 bcm of natural gas (in accordance to the Polish norms) over the period until 30 September 2009. The gas will be delivered through cross-border points on the Polish-Ukrainian and/or Polish-Byelorussian border. The contract value shall depend on the oil product prices on the world markets. The estimated contract value, based on the current oil product prices, is approx. USD 300m (approx. PLN 970m).The contract will be signed once the consents of the Supervisory Board of PGNiG S.A. and the Minister of State Treasury have been obtained.Thanks to the contract with Gazprom, PGNiG SA will be able to fill its underground gas storage facilities in preparation for the fall and winter season. Otherwise, it would be impossible due to RosUkrEnergo’s failure to perform its contract.  

New gas Tariff starting from 1 June 2009

Additionally, Polskie Górnictwo Naftowe i Gazownictwo SA announces that the Gaseous Fuels Tariff, approved on 7 May 2009 by the Head of the Energy Regulatory Office, shall enter into force on 1 June 2009. 

Further information concerning the new Tariff can be found on the website: www.pgnig.pl 

Joanna Zakrzewska

Spokesperson for PGNiG SA