In Q1-Q3 2012, the PGNiG Group earned net profit of PLN 48m, compared with PLN 1.32bn in the corresponding period of the previous year. In Q3 2012, the Group's net profit dropped 80%, to PLN 65m, from PLN 319m a year ago.   The Group's operating result for Q1-Q3 2012 was most significantly affected by a PLN 1.8bn loss posted by the Trade and Storage segment, responsible for gas purchases and sales. In Q3 2012 alone, the segment's operating result was down PLN 320m year on year, leading to a PLN 350m loss. 

In response to questions arising in relation to possible joint projects with Gazprom and in connection with the Annex to the Yamal Contract of November 5th 2012, the PGNiG Management Board hereby represents that:

  During a meeting between Grażyna Piotrowska-Oliwa, President of the Management Board of PGNiG SA, and Alexander Medvedev, Deputy Chairman of the Management Committee of Gazprom S.A., an agreement was reached concerning a change in pricing terms of the contract for gas supplies to Poland.

  Polskie Górnictwo Naftowe i Gazownictwo SA can already commence the launch of the Lubiatów-Międzychód-Grotów production facility. Having completed technical commissioning, the Company can now undertake work related to the facility's start-up. Thanks to the project, Poland's conventional gas production will increase and domestic output of crude oil will double.

Polskie Górnictwo Naftowe i Gazownictwo SA sold 10.5 billion cubic metres of gas in the first three quarters of 2012, compared with 10.2 billion cubic metres in the corresponding period of 2011. The volume of natural gas produced in Q1-Q3 2012 totalled 3.2 billion cubic metres and remained flat year on year.

VNG - Verbundnetz Gas Aktiengesellschaft (VNG) and Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) have agreed an amended pricing formula under the existing agreement for gas supplies to Poland until 2016.  The new formula will take effect as of October 1st 2012.  The annual supplies of gas to PGNiG will remain unchanged, at 400 million cubic metres.

PGNiG SA launches a new website designed to educate the public about shale gas http://www.lupkipolskie.pl/. Its launch is part of a nationwide campaign planned by PGNiG SA to raise awareness of the issues related to shale gas.

Grupa LOTOS S.A. and Polskie Górnictwo Naftowe i Gazownictwo SA entered into an agreement for joint exploration for conventional and unconventional oil and gas and commercial cooperation. The two companies will assess the potential of PGNiG's seven exploration licences.

Today was the day marking the official launch of south-eastern supply for the city of Gdańsk, and the interconnection system supplying the refinery of Grupa LOTOS S.A. with natural gas. The project is of strategic importance to the region of Pomerania. It will enhance the region's energy security and support its economic growth.

Polskie Górnictwo Naftowe i Gazownictwo SA received a decision of the President of the Energy Regulatory Office to refuse to approve the changes in the gas fuel tariff. The Company is in the process of analysing the grounds for the decision, and has 14 days to appeal against it.