22 Apr 2022 18:08

PGNiG cuts gas sales in Ukraine by nearly two-thirds in Q1 2022

KYIV. April 22 (Interfax-Ukraine) - The Polish state oil and gas company PGNiG cut the volume of gas sold to Ukraine in the first quarter of 2022 by nearly two-thirds, i.e. to 80 million cubic meters, from 210 million cubic meters sold in the first quarter of 2021, PGNiG said in a statement on Friday.

The overall amount of gas PGNiG sold outside the group in this period was 11.54 billion cubic meters, compared to 11.28 billion cubic meters in the first quarter of 2021.

As reported earlier, PGNiG's profits declined in 2021 by 16% to 6.19 billion zloty ($1.55 billion), including 3.09 billion zloty earned in the fourth quarter alone. At the same time, its revenues increased by 80% to 69.96 billion zloty ($17.48 billion).

It was reported in early February that PGNiG had purchased a cargo of liquefied natural gas (LNG) from the United States to ship it toward Ukraine's border for ERU Europe, which was to receive the fuel at the Polish-Ukrainian border up to the end of March 2022.