Recent history (2013–today)
In September 2013, the consolidation of all gas companies within the PNGiG consortium into one company, under the name Polska Spółka Gazownictwa, was completed. In December 2013, PGNiG announced a cooperation with Chevron in order to scale-up their shale-gas operations faster.[30] On August 1, 2014, PGNiG OBRÓT DETALICZNY was separated from the current structure of PGNiG SA. Its establishment was dictated by legal conditions and the need to prepare for the upcoming full liberalisation of the gas market in Poland. As a result of the change, all retail customer service in the field of natural gas and electricity sales were transferred to the new company.[31] Following these steps in deregulation of the Polish energy market, PGNiG was one of the first companies to directly trade on the nation's gas exchange.[32] In 2014, as part of the Russo-Ukrainian War, PGNiG reported a reduction of gas deliveries from Russia by 45%. As part of this reduction, PGNiG had to temporarily cut their gas exports to Ukraine.[33][34][35]
In 2015, PGNiG expanded their cooperation with PKN, jointly exploring for oil and gas in the south-east of Poland.[36]
In June 2016, the President Lech Kaczyński LNG Terminal received the first commercial cargo of liquefied natural gas under a commercial contract between PGNiG SA and Qatar's LNG producer QatarEnergy LNG.[37] Another LNG cargo was delivered from Norway's Statoil, totaling around 140,000 tons.[38]
In 2017, Qatargas signed a new LNG Sale and Purchase Agreement (SPA) with PGNiG, agreeing to deliver two million tonnes per annum (MTPA), starting on 1 January 2018 (until June 2034).[39] The company also announced the first LNG delivery from the United States, which became the first LNG cargo shipment from the US Europe.[40][41] In March of the same year, Polish energy firms PGNiG, PGE and Energa announced a total investment of $127 million into Poland's coal mining firm PGG. More than half of the investment came from PGNiG. The three companies had become PGG investors in the previous year.[42] In 2017, PGNiG first signed a gas storage agreement with Ukraine's Ukrtransgaz, which was extended in 2018.[43] By April 2022, PGNiG had ordered seven LNG carriers.[44]
In June 2018, PGNiG signed an agreement with Port Arthur LNG to supply Poland with LNG from the Port Arthur facility in Jefferson County, Texas, United States.[45]
In November 2018, PGNiG signed a long-term contract with Cheniere Marketing International. It secures liquefied natural gas supplies from the United States of America.[46]
In December 2018, PGNiG won an exploration licence for blocks in the Emirate of Ras Al Khaimah, United Arab Emirates (UAE). For organizational and nonadministrative purposes, the company will establish a local office in the emirate.[47][48]
In June 2019, PGNiG agreed with its US counterpart Venture Global for an annual increment of 1.5 million metric tons from the Plaquemines terminal. Thus, the volume of liquefied gas from the Plaquemines terminal will increase from 1.5 to 2.5 million tons per year.[49]
In July 2019, PGNiG Upstream Norway, a subsidiary of the PGNiG bought 20% of the Duva field from Wellesley Petroleum.[50]
On 14 July 2020, PKN Orlen announced its intention to take over PGNiG, and on 10 May 2021, it submitted a takeover application to the Office of Competition and Consumer Protection.[51][52]
In September 2021, PGNiG bought Ineos' oil and gas business in Norway in a $650 million deal. The deal includes all of Ineos' oil and gas business in production, licenses, fields, facilities and pipelines of Ineos on the Norwegian continental shelf.[53][54]
In 2021, PGNiG was ranked no. 58 in the Arctic Environmental Responsibility Index (AERI) that covers 120 oil, gas, and mining companies involved in resource extraction north of the Arctic Circle.[55]
In September 2022, PGNiG signed a major deal to buy natural gas from Equinor, which was considered one of the major energy companies. Under the agreement, PGNiG will receive 2.4 billion cubic meters of gas per year for 10 years, as the gas will pass through the new Baltic pipeline project. This step comes in an attempt by the government to replace Russian gas and diversify gas supplies in the country.[56][57]
In October 2022, Shareholders of PGNiG approved the company's takeover by PKN Orlen, this came after PKN Orlen Shareholders done the same.[58]
Relation to Russia
As part of Polish plan to become fully energy independent from Russia within the next few years, Piotr Wozniak, president of the company, stated in February 2019: "The strategy of the company is just to forget about Eastern suppliers and especially about Gazprom."[11] In 2020, the Arbitration Institute of the Stockholm Chamber of Commerce ruled that PGNiG's long-term contract gas price with Gazprom linked to oil prices should be changed to approximate the Western European gas market price, backdated to 1 November 2014 when PGNiG requested a price review under the contract. Gazprom had to refund about $1.5 billion to PGNiG. The 1996 Yamal pipeline related contract is for up to 10.2 billion cubic metres of gas per year until it expires at the end of 2022, with a minimum annual amount of 8.7 billion cubic metres.[59][60] Following the 2021 global energy crisis, PGNiG made a further price review request on 28 October 2021. PGNiG stated the recent extraordinary increases in natural gas prices "provides a basis for renegotiating the price terms on which we purchase gas under the Yamal Contract."[61]
