The new management boards of copper conglomerate KGHM and the Polish Oil and Gas (PGNiG) are planning to take a final decision in terms of the yet unrealized contract from 2003, which concerns delivery of about 10 billion cubic meters of natural gas by PGNiG to KGHM's subsidiary Energetyka over the next 20 years.

"We are the third management board to handle this issue. I am full of optimism. I think that an appendix to the contract should be signed in H1," said Michał Szubski, president of PGNiG.

He added, "the best proof of the determination of both parties to reach agreement is the fact that we have already taken the decision to construct the gas pipeline to
transport gas to KGHM."

Similar optimism was shared by the representatives of KGHM, but none of the parties revealed how the terms of the contract will change. "The whole project will be less profitable to PGNiG than anticipated, as the amount of contracted gas is decreasing," said Szubski. (Parkiet, pp. 1, 4) M.M.