Inside Financial Markets

Polish gas firm PGNiG says increases gas output

Polish state-run gas firm PGNiG said on Monday it has doubled its gas output in Pakistan to more than 0.5 million cubic metres a day after it launched production at a new deposit earlier this month. — PGNiG started gas production last year at its Pakistani Rehman deposit, whose total reserves are estimated at 4.5 billion cubic metres.

— PGNiG has started three boreholes in Pakistan to date and is working on another, which will help it boost production.

— “We continue preparatory work to drill the next holes to further increase gas production,” PGNiG Chief Executive Officer Piotr Wozniak was quoted as saying in the company’s statement.

— PGNiG imports most of the gas it sells from Russia’s Gazprom and has taken steps to reduce that reliance.

— PGNiG’s sees its 2016 gas production at Polish deposits at 3.9 billion cubic metres, 0.5 bcm in Norway and 0.1 bcm in Pakistan. Poland consumes around 14 bcm of gas annually.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)