Company of PGNiG in a moment loses 2 billion zł. Win with the Russians? – Money.pl

2015-05-14 11:25

[Photo: PGNiG]

PGNiG files suit against Gazprom heaviest guns. Submit an application to the Court of Arbitration in Stockholm. Gas prices are falling drastically in the world, while we pay some of the highest rates and we can not solicit their adapt. Determined to move on the part of PGNiG spooked stock investors today who are selling off shares of the company – its market value over time fell by more than 2 billion dollars.

PGNiG and Gazprom will solve their conflict before the Court of Arbitration based in Stockholm. As for negotiations on price reductions bought in natural gas. For over half a year nothing came out of them.

Verification is concern rates for individual customers. In March, PGNiG reduced gas tariffs for wholesale customers. The reductions averaged 7.1 percent for high-methane gas and 3.2 percent for nitrogen-rich gas.

PGNiG suggests adjusting the rate change to the current situation on the European gas market. In recent months, gas prices fell sharply. Established in the reverse on the Yamal pipeline allows to import cheaper gas from the western direction.

In March, Russian news agency Interfax – citing data from Gazprom – revealed that in 2014 we paid per thousand cubic meters $ 379. This is much more than, for example, the rate paid by the Germans. Our western neighbors last year paid $ 323.

The PGNiG Group is listed on the Warsaw Stock Exchange. Investors reacted to the latest news very nervously. In the first minutes of the session, the shares lost in value almost 6 percent. This decrease translates to roughly a drop in value of the group by more than 2 billion zlotys. With a price per share at 6.31 zloty PGNiG is worth about 37 billion zlotys.

The PGNiG Group is engaged in production of natural gas and crude oil in the country, import of natural gas to Polish, gas storage in underground gas storages , distribution of gaseous fuels, as well as the deposit development of natural gas and crude oil in the country and abroad, and the provision of services geological, geophysical and exploration in Poland and abroad.

“At the purely” group earned in the first three months this year, 1.24 billion against 1.18 billion a year earlier. Share of Trade and Storage segment was 27 percent, 22 percent segment distribution, and production segment 13 percent.