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.