PGNiG of Poland Sold 8 Bcm of Gas in H1

Polskie Górnictwo Naftowe i Gazownictwo SA sold 8 billion cubic metres of gas in the first six months of 2012, compared with 7.6 billion cubic metres in the corresponding period of the prior year. The volume of natural gas produced in H1 2012 totalled 2.2 billion cubic metres and remained flat year on year.

The volume of gas sold in Q2 2011 was 2.9 billion cubic metres, similar to the prior year. Production also remained close to the Q2 2011 level and totalled 1.1 billion cubic metres.

In H1 2012, natural gas imports totalled 5.8 billion cubic metres, including 4.6 billion sourced from countries east of Poland. In Q2 2012, the volume of gas imports was 2.8 billion cubic metres, including 2.5 billion from countries east of Poland.

Crude sales grew from 219 thousand tonnes in H1 2011 to 223 thousand tonnes in H1 2012. In Q2 2012, the volume of crude sales increased year on year, from 89 thousand tonnes to 96 thousand tonnes.

Crude production grew from 218 thousand tonnes in H1 2011 to 223 thousand tonnes in H1 2012. In Q2 2012, the volume of crude production rose year on year, from 84 thousand tonnes to 95 thousand tonnes.

As at June 30th 2012 the high-methane gas underground storage facilities (Brzeźnica, Husów, Strachocina, Swarzów, and Wierzchowice Underground Gas Storage Facilities, and Mogilno Underground Gas Storage Cavern Facility) contained approximately 1.4 billion cubic meters of gas, including the mandatory stocks managed by the Minister of Economy, relative to 1.16 billion cubic metres in the corresponding period of the prior year. The figure does not include the volume managed by Operator Systemu Przesyłowego Gaz-System SA.

PGNiG SA plans to increase domestic gas production from approximately 4.2 billion cubic metres to approximately 4.5 billion cubic metres (measured as high-methane gas equivalent) by 2015. The company expects the volume of gas produced domestically and abroad to grow to approximately 6.2 billion cubic metres by 2015, with crude production volumes expected to increase to approximately 1.8 million tonnes.

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LNG World News Staff, July 23, 2012