News

The value of Polskie LNG was determined on the basis of valuation made by an independent expert. This amount was accepted by the Supervisory Boards of PGNiG SA and GAZ-SYSTEM S.A. Additionally, on 26 November 2008, the Extraordinary Meetings of Shareholders of PGNiG S.A. and GAZ-SYSTEM S.A. approved the sale of 100% shares in Polskie LNG Sp. z o.o., with its registered office in ?winouj?cie, for the aforementioned price.

Previously, on 8 November 2008, EGM of PGNiG SA approved the no-bid sale of 100 percent of shares in Polskie LNG Sp. z o.o., with its registered office in ?winouj?cie, to Operator Gazoci?gów Przesy?owych GAZ-SYSTEM S.A.

Polskie LNG was established in 2007 for the purpose of construction and operation of the liquefied natural gas (LNG) terminal in ?winouj?cie. The opening of the LNG terminal will allow to receive 2.5 bcm of natural gas per year in the initial period and will contribute to increased national energy security.

GAZ-SYSTEM S.A. will supervise the construction of the LNG terminal, while PGNiG SA will remain responsible for LNG deliveries to the ?winouj?cie terminal.

Joanna Zakrzewska                                                                          Ma?gorzata Polkowska

Spokesperson for                                                                             Spokesperson for

PGNiG SA                                                                                         GAZ-SYSTEM S.A.
phone: +48 22 691 79 30                                                                  phone: +48 022 56-01-755

mobile: +48 667-951-263                                                                 mobile: +48 691-911-217