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.