PGNiG: Extension of Individual Contract for gas fuel supplies to ORLEN Group

Further to Current Reports No. 91/2016 and No. 92/2016, the Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”) announces that on June 25th 2020 PGNiG and Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) entered into an annex to the Individual Contract for gas fuel supplies to the ORLEN Group, dated September 29th 2016 (“Individual Contract”).
Under the annex, supplies are to be made until December 31st 2022, with an option to extend the term until December 31st 2023. ORLEN Group will remain the strategic recipient of gas fuel for PGNiG.
The value of the Individual Contract from October 1st 2021 to December 31st 2023 is estimated at approximately PLN 5.5bn. The applied pricing formula is based on gas market price indices.
See also Current Report No. 91/2016 of September 28th 2016 and Current Report No. 92/2016 of September 29th 2016.