Polish gas company PGNiG no longer active in Iran

Polish gas monopolist PGNiG's activity on the Soumar deposit in Iran wrapped up at the end of October 2018 following the restoration of US sanctions on this country, the company has announced, adding that the move was not requested by the Iranian side.

As emphasised by PGNiG, its operation on the Iranian deposit ended "due to the risks resulting from the US reinstatement of the November 4, 2018, sanctions for activity in the Iranian energy sector." The company noted that it had already declared such an intention in May 2018, as had "many other energy companies at that time."

At the same time, PGNiG denied any media speculation suggesting that the ending of the Soumar deposit activity was due to the demands of the Iranian side.

The gas company also pointed out that a deal signed in the United Arab Emirates on Tuesday with Ras Al Khaimah Petroleum Authority and with RAK GAS LLC resulted from PGNiG winning a licence for a hydrocarbon exploration and production in the Ras Al Khaimah emirate in a tender announced in April 2018.