• CLEAN AND ENVIRONMENTALLY FRIENDLY Natural gas is the cleanest and most environmentally friendly of all fossil fuels...Read more

  • WELL DRILLING PADThe size of a typical drilling pad is about 1 hectare. To compare, the floorage of an average shopping centre is 4.5 hectares... Read more

  • SECURING OF WELL DRILLING PADA drilling pad as well as the adjacent pool are reinforced and tightened with concrete slabs. Protective foil is additionally laid where necessary.

  • WORK NOISEWell drilling does not produce onerous noise. The intensity of sounds generated in connection with drilling work is lower than that generated by street traffic.Read more

  • SAFETY OF FRACTURING PROCESSIn Poland, exploration wells in shale rock are drilled to depths of over 2.5 km.Read more

  • COMPOSITION OF FRACTURING FLUIDFracturing fluid is 95% water. Read more

  • NO MAJOR LANDSCAPE INTERFERENCEIf gas production is launched, the land surrounding the isolated, secured zone, is subject to a reclamation treatment. Read more

Notes to the Consolidated Financial Statements – Contents

19. Trade and other Receivables

in PLN m

Dec 31 2012 Dec 31 2011
Trade receivables 5,266 3,401
Trade receivables from related entities 2 2
VAT receivable 502 333
Other taxes, customs duties and social security receivable 25 12
Due and payable portion of loans advanced to related entities 29 29
Receivables from equity-accounted associated and jointly-controlled entities 4 2
Other receivables from related entities 2  - 
Receivables from sale of property, plant and equipment 5 1
Prepayments for tangible assets under construction 14 41
Additional contribution to equity receivable under a relevant resolution* 85 85
Amounts receivable due to failure to meet contractual terms  85 80
Prepayment for purchase of VHP assets (PGNiG TERMIKA S.A.)  -  89
Other receivables 250 87
Total gross receivables 6,269 4,162
Including gross receivables (including receivable portion of loans) from related entities (Note 38.1) 37 33
Impairment loss on doubtful receivables (Note 19.1) (895) (784)
Total net receivables 5,374 3,378
including:
Trade receivables 4,756 2,880
Trade receivables from related entities 2 2
VAT receivable 502 333
Other taxes, customs duties and social security receivable 23 9
Receivables from equity-accounted associated and jointly-controlled entities 4 2
Other receivables from related entities 2  - 
Receivables from sale of property, plant and equipment 5 1
Prepayments for tangible assets under construction 14 42
Additional contribution to equity receivable under a relevant resolution*  -   - 
Prepayment for purchase of VHP assets (PGNiG TERMIKA S.A.)  -  89
Other receivables 66 20
Including net receivables (including receivable portion of loans) from related entities (Note 38.1) 8 4
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* Dispute concerning additional contributions to the equity of PI Gazotech Sp. z o.o., described in item 42.1.

Dispute concerning additional contributions to the equity of PI Gazotech Sp. z o.o., described in item 42.1.

Trade receivables arise mainly in connection with the sale of gaseous fuel and distribution services. In addition, as at the end of 2012 the Group recognised receivables from Gazprom Export under retroactive settlements under Annex 40 of November 5th 2012.

Standard payment terms applied by the Group companies with respect to receivables in the usual course of business range from 14 to 45 days.

19.1. Impairment losses on receivables

in PLN m

Dec 31 2012 Dec 31 2011
Impairment losses at beginning of the period (784) (1,083)
Increase in impairment losses (380) (107)
Impairment losses reversed 242 230
Impairment losses used 29 176
Transfers between current and non-current portions   -   - 
Currency translation differences  -   - 
Changes in the Group (2)  - 
Reclassification into assets held for sale   -   - 
Impairment losses at end of the period (895) (784)
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