Glossary

PGNiG Polskie Górnictwo Naftowe i Gazownictwo SA
Group PGNiG Group
E&P Exploration and Production
T&S Trade and Storage
OGP Gaz-System SA Operator Gazociągów Przesyłowych GAZ-SYSTEM SA
OSM Operator Systemu Magazynowania Sp. z o.o.
PSG Polska Spółka Gazownictwa Sp. z o.o.
PGNiG Retail PGNiG Obrót Detaliczny Sp. z o.o.
PPE Polish Power Exchange
TTF Title Transfer Facility; Dutch Power Exchange
NCG Natural Converted Gas
Gaspool German Energy Exchange
GM General Meeting
URE Urząd Regulacji Energetyki; Energy Regulatory Office
CNG Compressed Natural Gas
LNG Liquefied Natural Gas
WACC Weighted average cost of capital
Upstream                Exploration and production of mineral deposits
R&D Research and development
EIP Efficiency Improvement Programme
EBIT Operating profit
EBITDA Operating profit before depreciation and amortisation
UGS Underground gas storage facility
CUGS Underground gas storage cavern facility
Boe Barrel of oil equivalent (one barrel is ca 0.136 tonnes)