Polish Oil & Gas Company (PGNiG) and Port Arthur LNG, a subsidiary of Sempra LNG & Midstream, today announced they have entered into an agreement relating to the terms of delivery of liquefied natural gas from the Port Arthur liquefaction facility.

Polskie Górnictwo Naftowe i Gazownictwo has signed agreements with two US LNG producers for long-term LNG purchase contracts. The Company consistently pursues its strategic objectives by building a diversified gas supply portfolio and expanding its trading activity on international LNG markets.

MiniDrill is an innovative solution that can increase hydrocarbon production and reduce drilling costs. The project’s first phase has just been completed.

Q1 2018 net profit at PLN 1.57bn on revenue of PLN 13.25bn. Share of gas from across Poland’s eastern border continued to decline, from 84% to 78% of total imports over the year. Volumes of LNG imports to Poland up 31% over Q1 2017.

Polskie Górnictwo Naftowe i Gazownictwo S.A. obtained commercial gas flows from the Królewska Góra-1K borehole, located in Budy Głogowskie, Rzeszów county. The Company estimates that the new deposit may yield approximately 20 mcm of high-methane gas per year.

The Norwegian Ministry of Petroleum and Energy has approved the geological documentation and development plans for two fields in which PGNiG Upstream Norway holds interests. Production is planned to begin in 2020.

Polish Oil and Gas Company (PGNiG) and ORLEN Upstream commenced drilling of another well under their joint project Płotki. Work on the Chwalęcin-1K borehole will take approximately 80 days. In addition, the two companies are getting ready to develop another field.
 

Polish Oil and Gas Company (PGNiG SA) has signed a memorandum of understanding forging a strategic partnership with the second largest gas producer in Pakistan. The MOU provides for the parties’ cooperation in the upstream segment within and outside of Pakistan.

Net profit of the PGNiG Group rose by 24%. EBITDA rose by 10% y/y, and EBIT increased by 16%, reaching PLN 3.91bn. The Group’s revenue grew to PLN 35.86bn, up by 8% y/y.

Naftogaz and Poland’s PGNiG have signed a contract for urgent gas supplies following the yesterday’s Gazprom’s decision to refuse starting supply of gas to Naftogaz, which happened a day after the announcement of the award of the Stockholm Tribunal.