New development strategy of PGNiG oil and gas corporation
PGNiG Oil Corporation pays special attention to environmental problems. The main Polish producer and supplier of raw materials has contributed to the development and promotion of alternative energy. The company has allocated 1 billion dollars for green technologies. Within this framework, a new strategy of PGNiG activities will be developed, which will enable the company to develop and strengthen its position on the market without harming the environment.
In the near future the corporation plans to create a new direction that will work in the field of renewable energy sources. According to the statement of PGNiG management, they plan to direct part of their efforts to production of hydrogen and biomethane, as well as to expand opportunities for their use. The corporation wants to show by its own example that alternative sources of energy are the future of modern energy, while oil is gradually falling into the background. Therefore, in order to maintain stable leadership in the market, it is necessary to move away from traditional raw materials and expand options through solar, wind, hydrogen and other green technologies. In addition, the introduction of the new direction will increase the value of PGNiG and its revenues, as well as contribute to economic transformation and reduce emissions to zero.
According to the management of PGNiG, they consider the most promising wind energy and projects related to the transformation and generation of solar energy. In addition, the corporation is developing its own projects and plans to build new renewable energy facilities.
Another direction of the Polish company is the expansion of gas deposits outside the country. As part of this strategy, PGNiG has acquired part of the assets of the facility in Norway, from which raw materials will be transported via Baltic Pipe pipeline to Poland. The project was named Tommeliten Alpha and its main objective is to diversify supplies and strengthen PGNiG’s position. According to the results of the new field, the corporation’s production volume has increased by 0.5 billion cubic meters of gas. The same figures are forecast for the next 6 years. Besides, the facility in Norway allows expanding production of oil and gas condensate up to 500 thousand tons.
The Polish PGNiG Corporation is state-owned, it was established in 1976 as an association of mining oil and gas production or ZGNiG, and by 1982 the relevant ministry of the country decided to transform it into PGNiG. The company initially operated as a multi-stage structure, but in 1996 it became a joint stock company, which included six enterprises located in different cities of Poland. Now PGNiG has representative offices and subsidiaries in other countries and is responsible for gas transportation to the state.
