Value chain New business areas Sales Distribution Storage Wholesale/trading Exploration and production

New Business Areas

As new growth opportunities for PGNiG emerge, we take comensurate steps to expand the scope and scale of operations.

Accordingly, the updated strategy provides for the following strategic objectives for new business areas:

Actions taken to pursue these objectives include:

Our achievements to-date

In November 2009, a new company, PGNiG Energia SA, was established to execute projects focusing on the transformation of the Group into a modern multi-utility. PGNiG Energia’s projects will include construction of power-generation units, investment in natural gas-powered cogeneration plants and pilot bio-gas projects. The most important venture currently pursued by PGNiG Energia is the construction of a CCGT plant in Stalowa Wola. The project was initiated with a letter of intent between Tauron Polska Energia and PGNiG on November 20th 2008. A subsequent execution agreement was signed on May 7th 2010, while the agreement on the operation of Elektrociepłownia Stalowa Wola, agreement for the sale of electricity and agreement for supply of fuel gas were executed on March 11th 2011. In the fourth quarter of 2011, the last phase of the procedure for selecting the General Contractor for a combined cycle gas turbine at EC Stalowa Wola SA was commenced.

In August 2011, PGNiG (through a subsidiary) and Vattenfall AB signed a preliminary share purchase agreement for the purchase of 99.8% shares in Vattenfall Heat Poland SA (VHP). In January 2012, the transaction was finalised and the acquired company was renamed PGNiG Termika SA.

The acquisition of the VHP assets, with a total installed capacity of 980 MWe, and the project in Stalowa Wola (50% of 400 MWe), executed jointly with the Tauron Group, will allow PGNiG to almost entirely achieve its objectives. The access to the Warsaw heat and electricity market, obtained following the acquisition of VHP, offers an opportunity to implement new projects involving gradual replacement of old coal-fired generating units with gas-fired assets.