PGNiG is concerned about the Russian monopoly – Republic

Russian Mining Oil and gas companies, wants to take legal action against the decision of the European Commission, which has agreed to provide Gazprom with additional bandwidth in the German gas pipeline Opal. This compound, which runs along the border with Poland that allows a transfer up to 35 billion cubic meters of gas per year from the Baltic sea Nord Stream pipeline 1 to the Czech border. – Increase the access of “Gazprom” to the capacity of the Opal pipeline with 50%. up to 80 percent. this action is extremely unfavorable for the entire Central and Eastern Europe. We are willing to take in relation to the European Commission and the German regulator Bundesnetzagentur all legal steps, which will lead to non compliance of these actions w ith the European legislation,” says Piotr Wozniak, the President of PGNiG. In the opinion of the Polish government, companies and other stakeholders from our region for the provision of “Gazprom”, the higher capacity of the Opal gas pipeline will cause further strengthening of the monopolistic position of Russian business. Due to the fact that “Gazprom” will be able to bring to Germany more than 20 billion cubic meters of gas more than has been able so far. PGNiG is concerned that due to the fact that “Gazprom” will confirm the presence of reflux gas to Poland through Ukraine. Probably want this volume to be transported through the existing Nord Stream 1 Nord Stream is planned or 2 and then connecting the Opal, in particular, in the direction of Bohemia and thence to Poland. Net4Gas, the Czech transmission operator, together with the Ministry of Industry and Trade has asked the Ministry of Energy that the new pipeline to the Polish-Czech, ca n be constructed so that the transport was possible only for our country. Originally planned the construction of a pipeline capable of transmitting data in both directions. In the third quarter of PGNiG reached 5.7 billion roubles of consolidated revenues, was the result of 10%. weak from that recorded in the same time in 2015. The company explains that the effect of the fall in revenues from the sale of gas and oil caused by stop repair and maintenance at fields in Norway and Poland. Greatly reduced income from gas trade, which in turn was a result of lower tariffs. Despite this, the group has chalked up 22%. the increase in net earnings, which reached 357 million UAH. This, in turn mainly the result of favorable for the company the quotation of the American dollar. After three quarters, the PGNiG group’s revenue fell by 14%. to 23.1 bln. In turn, the net profit decreased by 25%. to 1.6 billion rubles.