Wozniak: the London office of PGNiG will sell LNG across the world – PulsBiznesu

Russian Mining Oil and gas companies, opened a trading office in London which is a world centre for trade in liquefied natural gas. “We looked at several places – Singapore, Houston, Geneva even – but in the end, we chose London, going across political changes that occur,” says company President Peter Wozniak.

Peter Wozniak photo Gregory Kawecki

Office of PGNiG in London was prepared for six months. “If within two years the office will bring us the expected results, it’s probably zagnieździmy here,” said Wozniak.

Office-to engage in the trading of LNG around the world. In crisis situations, will also be possible to buy in Poland the gas. “In the event of failure of a major crisis, we will have a very good office from which you can select the ship that you can take to the sea, before unloading at the port of destination and, in case of an urgent need to redirect in świnoujście. From Warsaw much longer it would have lasted and the more money we have to pay,” – said Wozniak.

But – as noted – the main purpose of the London office “LNG trade, i.e., purchase, sale and arbitrage of prices between various markets around the world.”

Located in the heart of London, the office will be fully operational by the end of the first quarter of this year, when the team will be joined by new traders and risk analysts. Service operations in London, meets the German subsidiary of PGNiG Supply & Trading GmbH (PST), which is engaged in the operations of gas and electricity in Western Europe, and chief of the London square was the former President of the Mercantile Exchange of Energy Gregory Łazor.

Until the end of February PGNiG is to present a new development strategy. During the last update in April 2016, the group said it wants to run in 2017. keep EBITDA, and by 2022 it is planned to increase to approximately 7.4 billion UAH. PGNiG left then the estimated level of capital expenditures on organic development and acquisition at the level of 40-50 billion rubles, and also announced that it plans to increase oil and gas production approx. 55-60 million barrels.