Basic informations
The PGNiG Group is the leader of the Polish natural gas market, as well as the only vertically integrated gas company in Poland. Its parent undertaking is Polskie Górnictwo Naftowe i Gazownictwo. Formation of the Group's enabled coordination of the upstream and downstream operations - from exploration and production to storage to trade and distribution of gaseous fuels. The roots of the companies forming PGNiG date back to 19th century - to the beginnings of Polish and world oil industry. The company has been operating under the name PGNiG since 1982. In 1996, the state-owned company PGNiG was transformed into a joint stock company.
The Company owes its competitive edge on the gas market (which is now in the process of deregulation), chiefly to the natural gas and crude oil production. The core business of the PGNiG Group includes trade in and distribution of natural gas. Following the separation of its gas trading business from the operation of the gas distribution network - completed in 2007 - the entire trading business has been taken over by PGNiG, while distribution is now handled by six Distribution System Operators belonging to the PGNiG Group.
In 2008 PGNiG has started two important investment projects: develop the Lubiatów-Międzychód-Grotów field (LMG field) and expansion of Wierzchowice underground gas storage facility.
Activity
PGNiG and companies in PGNiG Capital Group are responsible for:
- gas and crude oil production,
- gas and crude oil fields development in Poland and abroad,
- geological, geophysical and exploration services in Poland and abroad,
- gas import to Poland,
- storage of gas in underground gas storage facilities,
- distribution of gas fuel.
Warsaw Stock Exchange
On September 23rd 2005, PGNiG floated its shares on the Warsaw Stock Exchange, in the largest public offering in 2005. The Company's main shareholder on debut day was the State Treasury, which held 84.75% of the shares. Starting form April 3rd 2009 PGNiG started a process of free of charge shares distribution to its employees (750,000,000 shares).