New agreement on the sale of crude oil
On 30 December 2009, an agreement on the sale of crude oil was concluded between PGNiG S.A. and TOTAL TOTSA OIL TRADING S.A.
A further extension of liabilities
On 8 December 2009, an understanding was signed on extending the payment deadline for liabilities of Zakłady Chemiczne Police SA towards Polskie Górnictwo Naftowe i Gazownictwo SA.
November 19th 2009 marked the day when Polskie Górnictwo Naftowe i Gazownictwo S.A. ("PGNiG") joined the élite group of companies listed in the RESPECT Index of the Warsaw Stock Exchange, which includes issuers recognised for their corporate social responsibility efforts.
PGNiG SA and Petrolinvest SA sign cooperation agreement
On 25 November 2009, Polskie Górnictwo Naftowe i Gazownictwo SA and Petrolinvest SA signed a framework cooperation agreement covering exploration and extraction operations and the performance of geological works.
PGNiG SA Offers a Redesigned Website to Users with Disabilities
The new website of Polskie Górnictwo Naftowe i Gazownictwo has been customised to accommodate the needs of users with disabilities. It also includes a new feature that allows for online replacement of contracts. This change constitutes yet another stage in implementing the Sustainable Development and Corporate Responsibility Strategy adopted by the PGNiG Capital Group.
PGNiG Energia SA launches operations
On 19 November 2009 the General Meeting of the Shareholders of PGNiG SA made a decision to establish a new company, PGNiG Energia SA. The goal of the new company is to implement plans of transforming the Group into a modern, diversified energy corporation. PGNiG Energia SA will engage in projects related to the construction of power units, investments in gas-fired cogeneration plants and pilot biogas projects.
Press release concerning withdrawal from the natural gas sale agreement between PGNiG SA and Zakłady Chemiczne "Police" SA
On 18 November 2009, Polskie Górnictwo Naftowe i Gazownictwa SA addressed to Zakłady Chemiczne "Police" SA a letter containing its decision to withdraw from the natural gas sale agreement. The reason for the decision is the steadily growing debt of Zakłady Chemiczne "Police" SA towards PGNiG SA due to the unsettled bills for delivery of natural gas. Pursuant to the provisions of the agreement, the withdrawal will take place after 30 days from the date of receiving today's letter by Zakłady Chemiczne "Police" SA.
PGNiG Group net profit higher than expected
In the third quarter of 2009, the PGNiG Capital Group attained a net profit of PLN 408 million, which is PLN 228 million (127 per cent) more than in Q3 of 2008 when the net result was only PLN 180 million. The results achieved confirm earlier statements on the systematic improvement of PGNiG Group's financial situation, and remain in line with market expectations - revenues from sales meet expectations, while net profit is seven per cent higher than the market consensus.
News release regarding a gas supply understanding
On 3 November 2009 the management board of PGNiG SA adopted a set of agreements concluded as part of the "Joint declaration between OAO Gazprom and PGNiG SA on cooperation with regard to gas". The understanding concluded by PGNiG SA and OAO Gazprom regarding gas supplies ensures the security of supplies to all clients in Poland and provides a basis for growth on the domestic gas market. Also, it does not jeopardise plans to diversify supplies of gas, which remain a priority. The understanding extends the life of the current long-term contract from 2022 to 2037 and sets gas supply levels at 10.27 billion cubic metres. The long-standing pricing formula remains unchanged. The agreements between PGNiG and Gazprom will come into force after appropriate documents are signed by the Republic of Poland and the Russian Federation at government level.
PGNiG SA and OAO GAZPROM agreed on terms of cooperation
During the talks closed on October 29th 2009 in Moscow, PGNiG SA and OAO Gazprom settled the terms of cooperation regarding natural gas supplies to Poland. The Parties reached agreement on increasing the supplies and extending the term of the existing contract until 2037. Additionally, PGNiG SA and OAO Gazprom adopted compromise solutions regarding the manner of managing EuRoPol GAZ SA and the tariff policies applied by the company.
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