Revenue generated by the PGNiG Group grew 8% year on year in the face of falling natural gas prices and rising oil prices. The Group increased volumes of sales of natural gas and electricity.

The Management Board of PGNiG S.A. welcomed the announcement by Venture Global LNG of the financial close for the Calcasieu Pass LNG facility in Louisiana, US.

To date PGNiG has dispatched 5,000 tanker trucks carrying liquefied natural gas (LNG) from the President Lech Kaczyński Terminal in Świnoujście. The largest customers are regasification stations serving communities with no access to the national gas distribution network.

Within two years, PGNiG will increase its natural gas and crude oil production by 13% and 12%, respectively. The Company expects that in 2021 it will produce 5.2 bcm of natural gas and approximately 1.4 million tonnes of crude oil both in Poland and abroad.

The first cargo of liquified natural gas under the long-term contract between PGNiG and US LNG provider Cheniere Energy arrived today at the President Lech Kaczyński LNG Terminal in Świnoujście. The long-term contract, which was signed in November of 2018, will total approximately 39 bcm of natural gas over the 24 year period of the agreement.

PGNiG Upstream Norway has acquired 20 percent shares in the Duva field – PL 636 and PL636B licenses – from Wellesley Petroleum AS. First production is expected at the turn of 2020 and 2021.

Polish Oil and Gas Company and Startup Hub Poland have invited to Poland another group of foreign startups offering innovative solutions for energy companies. The best startups will be given financial support and the opportunity to implement their projects in Poland. PGNiG is the strategic partner of the project.

Rizq-3 is the third well drilled by the Company in the Rizq field. PGNiG’s natural gas production in Pakistan is growing year by year.

The winner has been announced in the first acceleration round of Poland Prize, a governmental programme for startups, coordinated by the Startup Hub Poland Foundation and supported by PGNiG. The winning startup is Spottitt, a UK-based company that has developed a system for analysing satellite images of the earth for optimal positioning of renewable energy power plants and other projects.

Rating agency Moody’s justified its decision by referring to the strong financial standing of PGNiG, which the company would be able to maintain while implementing a major investment programme and with falling gas prices.