The Polish state oil and gas company PGNiG reduced gas sales in Ukraine in the first quarter of 2022 by almost three times, to 80 million cubic meters from 210 million cubic meters in the first quarter of 2021, according to a PGNiG release.
According to the report, in general, the volume of gas sales outside the group in this reporting period amounted to 11.54 billion cubic meters compared to 11.28 billion cubic meters in the first quarter of 2021.
As reported, PGNiG’s profit in 2021 fell by 16%, to PLN 6.19 billion ($1.55 billion); while most of this profit (PLN 3.09 billion) was earned by the company in the fourth quarter. At the same time, revenue jumped 1.8 times, to PLN 69.96 billion ($17.48 billion).
In early February, it was reported that PGNiG purchased a batch of liquefied natural gas (LNG) from the United States for delivery to the Ukrainian border for ERU Europe, which will receive the purchased fuel at the connection between Poland and Ukraine until the end of March 2022.