PGNiG delivers impressive results in first quarter 2017
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.
PGNiG: The European Commission should fine Gazprom and create competitive conditions on the gas market
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.
Moody’s affirmed PGNiG’s Baa3 issuer rating with stable outlook
In its ratings rationale, Moody’s indicated strong financial standing of GK PGNiG, stable cash flows stemming from Distribution and Storage segments’ activities, as well as the Group’s dominant position on the Polish natural gas market.
We inform that in spite of recent news, PGNiG S.A. did not send to the European Commission any request for initiation of a separate/second antitrust proceeding against Gazprom.
First LNG delivery from U.S. Supplier to Poland
Polish Oil & Gas Company (PGNiG) will bring the first delivery of liquefied natural gas from U.S. Supplier to Poland. LNG will be delivered by Cheniere Energy. The transaction was overseen by PGNiG trading office branch in London.
Polish gas wins a tender for the Ukrainian Ukrtransgaz
Joint success of PGNiG and ERU Trading: Polish gas wins a tender for the Ukrainian Ukrtransgaz. ERU Trading in cooperation with PGNiG SA to deliver 218 million cubic meters of gas from Poland to the Ukrainian storage and transmission network operator Ukrtransgaz in 2017
Fitch: PGNiG assigned with ‘BBB-‘ rating, stable outlook
Fitch Ratings agency assigned Polish Oil & Gas Company (PGNiG) with a Long-Term Foreign Currency Issuer Default Rating of ‘BBB-‘ with stable outlook and a Long-Term Local Currency IDR on the same level. PGNiG was also assigned a National Long-Term rating of ‘A(pol)’ with stable outlook.
PGNiG increases involvement in Norway
PGNiG Upstream Norway, wholly owned subsidiary of PGNiG SA (Polish Oil and Gas Company), purchased share in the Storklakken discovery from Aker BP ASA. Transaction is a part of implementation of PGNiG’s strategy and will allow an increase of hydrocarbon production outside Poland.
New PGNiG Group Strategy for 2017–2022
Capex in excess of PLN 34bn, cumulative EBITDA of approximately PLN 33.7bn, and over PLN 680m to be spent on R&D&I are among the key objectives of the new PGNiG strategy. The Group also intends to increase its production capacities in Norway, step up expansion of Poland’s gas distribution network, and increase the volume of gas sales on foreign markets.
PGNIG signed a strategic agreement with Qatargas
Polish Oil and Gas Company (PGNiG) today announced the signing of a side agreement to the existing Sale and Purchase Agreement (SPA) with Qatargas, the World’s Premier Liquefied Natural Gas Company.
PGNiG Group posts very good results: PLN 2.35bn in net profit for 2016
Year on year, the net profit figure represents a 10% improvement. EBITDA amounted to PLN 5.97bn, with contribution of the Trade and Storage segment having more than doubled on the year before. Higher number of gas system connections and larger sales of heat contributed to solid results in Distribution and Generation segments.
PGNiG joins the International Association of Oil & Gas Producers
Polish gas giant becomes a new member of IOGP – an association that serves as the voice of the global upstream industry. PGNiG enters a group that comprises key industry players as well as national and international associations.
PGNiG will deliver gas to ArcelorMittal in Poland. Another contract with a big natural gas recipient
The three-year contract with an extension option for further three years can be valued at PLN 1.4 bn. By 2023 total volume of gas supply can reach 1.6 bcm.
New from PGNiG: ticketing service for gas storage
In response to the expectations of companies involved in natural gas imports to Poland, PGNiG is introducing a ticketing service. As part of the service PGNiG will keep mandatory stocks of natural gas on behalf of the Customers according to the applicable Polish regulations.
Polish gas giant starts LNG trading activities from its branch in London
Polish Oil and Gas Company Group (PGNiG) has opened a LNG trading office in London. This way the group becomes one of the players of the LNG global market. The office is expected to become fully operational by the end of Q1 2017.
New licenses in Norawy and Pakistan
Polish Oil and Gas Company PGNiG has obtained interests in two more exploratory and production licenses in the Norwegian Sea as well its first production license in Pakistan. The annual production from the PGNiG resources on the Norwegian Continental Shelf in 2016 amounted to 0.51 bcm, while the production in Pakistan can raise fivefold with the production license for the Rehman field.