Definitions and converters


Whenever any of the following acronyms and terms appear in this 2020 Non-Financial Report of PGNiG and the PGNiG Group and nothing to the contrary is stated herein, these acronyms and terms should be interpreted as follows:

Abbreviations and acronyms


Proper names of companies and branches
PGNiG, the Company, the Issuer PGNiG S.A. as the parent of the group of companies
PGNiG Group the PGNiG Group consisting of PGNiG S.A. as the parent and the subsidiaries
CMTL PGNiG Central Measurement and Testing Laboratory Branch
ECSW Elektrociepłownia Stalowa Wola S.A.
Gazoprojekt PGNiG Gazoprojekt S.A.
Geofizyka Kraków GEOFIZYKA Kraków Sp. z o.o. w likwidacji (in liquidation)
Geofizyka Toruń GEOFIZYKA Toruń Sp. z o.o.
GSP Gas Storage Poland Sp. z o.o.
PGG Polska Grupa Górnicza Sp. z o.o.
PGNiG OD PGNiG Obrót Detaliczny Sp. z o.o.
PGNiG Technologie PGNiG Technologie Sp. z o.o.
PGNiG Termika, Termika PGNiG TERMIKA S.A.
PGNiG Termika EP PGNiG TERMIKA Energetyka Przemysłowa S.A.
PUN PGNiG Upstream Norway AS
Polski Gaz TUW Polski Gaz Towarzystwo Ubezpieczeń wzajemnych
PSG Polska Spółka Gazownictwa Sp. z o.o.
PST PGNiG Supply & Trading GmbH
PST ES PST Europe Sales GmbH
Names of institutions, capital market entities and energy markets
EEX European Energy Exchange (an energy exchange in Germany)
GASPOOL GASPOOL Balancing Services GmbH (a hub in Germany)
GAZ-SYSTEM Operator Gazociągów Przesyłowych GAZ-SYSTEM S.A.
WSE Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie S.A.)
KRS National Court Register
NCG NetConnect Germany GmbH & Co. KG (a hub in Germany))
NBP National Balancing Point (a hub in the UK))
LNG terminal the President Lech Kaczyński LNG Terminal in Świnoujście
POLPX Polish Power Exchange (Towarowa Giełda Energii S.A.)
TTF Title Transfer Facility
URE Polish Energy Regulatory Office
Units of measure
bbl 1 barrel of crude oil
boe barrel of oil equivalent;
LNG liquefied natural gas
MWt 1 megawatt thermal
MWe 1 megawatt electrical
NGL gas composed of molecules heavier than methane: ethane, propane, butane, isobutane, etc.
PJ 1 petajoule
TWh 1 terawatt hour
Economic and financial metrics
EBIT earnings before interest and taxes
EBITDA earnings before interest, taxes, depreciation and amortisation
Adjusted EBITDA EBITDA adjusted for impairment losses on non-current assets
EV enterprise value
P/BV price/book value
P/E price/earnings
ROA return on assets
ROE return on equity
Net margin net profit to revenue
HP heat plant
CHPP CHP plant
SFG Storage Facilities Group
SF storage facilities
CGSF cavern gas storage facility
EGM Extraordinary General Meeting (of a joint stock company)
EGM Extraordinary General Meeting (of a limited liability company)
UGSF underground gas storage facility
GM General Meeting of Shareholders (of a joint stock company)
GM General Meeting of Shareholders (of a limited liability company)
Currencies used
PLN amounts expressed in the Polish zloty
euro, EUR amounts expressed in the euro
US dollar, USD amounts expressed in the US dollar
NOK amounts expressed in the Norwegian crown
SEK amounts expressed in the Swedish crown
UAH amounts expressed in the Ukrainian hryvnia
OMR amounts expressed in the Omani rial


Converters 1 bcm of natural gas 1m tonnes of crude oil 1m tonnes of LNG 1 PJ 1 mboe 1 TWh
1 bcm of natural gas 1 0.90 0.73 38 6.45 10.972
1m tonnes of crude oil 1.113 1 0.81 42.7 7.5 – 7.8* 11.65
1m tonnes of LNG 1.38 1.23 1 55 8.68 14.34
1 PJ 0.026 0.23 0.019 1 0.17 0.28
1 mboe 0.16 0.128 – 0.133* 0.12 6.04 1 1.70
1 TWh 0.091 0.086 0.07 3.6 0.59 1
* The converter is different for crude oil produced in Poland and Norway.

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