PGNiG to present strategy update in summer - CEO
July 14, 2014
Poland’s gas giant PGNiG is currently reviewing its strategy and will present an update during the summer months, CEO Mariusz Zawisza said on Friday.
"In the summer holidays we will be able to present strategic directions of company development," Zawisza told PAP Polish news agency. "I think it will be of interest to our shareholders."
The update will also show "an element of financial strength in the context of a comprehensive program we will want to realize," he added.
PGNiG has to take into account market conditions and challenges ahead, the CEO said.
PGNiG's current strategy to 2015 envisages, among others, increasing annual domestic production to 4.5 bcm of natural gas and 1 million tons of crude oil, maintenance of leading position in the number of licenses for unconventional hydrocarbons exploration, development of E&E operations abroad and increasing storage capacity to around 3 bcm. Other goals include improvement of profitability in distribution and optimization of distribution network development.