PGNiG’s revenue boosted by higher Polish LNG imports

Poland’s state-owned gas company PGNiG posted higher revenue in the second quarter of this year on the back of increased liquefied natural gas (LNG) imports via the country’s Świnoujście terminal and higher prices.

PGNiG on Thursday reported a 7 percent year-on-year growth in the quarterly revenue to 7.6 billion polish zlotys ($2.07 billion), with EBITDA up 16 percent to 1.6bn zlotys, and net profit rising 41 percent to 0.7 bn zlotys.

The Polish company boosted its total gas imports by 3 percent to 3.42 billion cubic meters in the period under review.

LNG imports rose 72 percent to 0.81 bcm as first cargoes were delivered under an additional contract from Qatar and a medium-term contract with UK’s Centrica, PGNiG said.