Poland's blue chip PGNiG's natural gas sales declined by 7% y/y to 8.2bn cu.m. in H1 of 2014 (but was up by 3% y/y to 3.3bn cu.m. in Q2 alone), while its production was flat in the year at 2.3bn cu.m. (and flat y/y at 1.1bn cu.m. in Q2 alone). In H1 of 2014, gas imports dropped to 5.1bn cu.m. from 6.0bn cu.m. a year before (including imports from the Eastern direction at 4.5bn cu.m. vs. 5.1bn cu.m., respectively).
The firm also said that its crude oil sales increased by 43% y/y to 0.644mn tonnes in H1 of 2014, while its production rose by 33% y/y to 0.615mn tonnes. It produces oil in Poland (incl. the biggest gas and oil mine Lubiatow) as well as in Norway through its subsidiary PGNiG Upstream International.
PGNiG also reported that as at Jun 30 of 2014, its stocks of gas (including mandatory stocks managed by the minister of economy) stored in underground high-methane gas storage facilities was around 2.05bn cu.m. This volume of gas stocks does not include the volume managed by Gaz-System, the state-owned gas transmission system operator.
Related Articles
Turkish LPG carrier set on fire during Russian drone attack
A Turkish LPG carrier docked at the port of Izmail, Ukraine, was hit by a Russian drone during an attack, sparking a fire on the vessel, which has now been extinguished. According to the Maritime ... more
Russia in talks to buy 1,000t of Niger uranium amid Sahel realignment, fading French influence
Russia is in talks to purchase around 1,000 tonnes of uranium from Niger in a deal valued at approximately $170mn, according to French security assessments cited by Le Monde. The reported ... more
Russia inks Power of Siberia 2 pipeline memorandum with China and Mongolia
Russia has signed a "legally binding memorandum" on the construction of a second gas pipeline to China, Power of Siberia 2, including a transit branch, Soyuz Vostok, that will run across Mongolian ... more
Most Read
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago