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Polish Briefing 8 March, 2018 9:00 am   
Editorial staff

Polish Briefing: The EC keeps working on the gas directive. Orlen-Lotos merger will take time

What goes on in Poland on the 8th of March.

Despite criticism, the European Commission keeps working on the revision of the gas directive

The European Commission will continue talks with the Council of the European Union on amendments to the gas directive – Commission spokeswoman Anna Kaisa Itkonen announced on Tuesday. A day earlier, the Council’s legal services rejected the Commission’s amendments, stressing that they were incompatible with UN standards.

In November last year, the European Commission approved amendments to the gas directive. They are to indicate unequivocally that offshore gas pipelines from third states that cross the territory of the European Union are subject to the regulations of the third energy package. The Russians criticize the plans for amending the directive, believing that if the purpose of the amendments is to hit the company responsible for the implementation of the project, then it will demand compensation.

– This is an internal legal document of the EU Council and we will not comment on the conclusions contained in it – Itkonen said. – In November 2017, we developed proposals for amending the gas directive to create conditions for regulating gas pipelines from third countries that run through EU territory. The directive should cover all gas pipelines. This is by no means the answer to Nord Stream 2. The regular reconciliation process is in progress and we are ready for a trialogue – she added.

Lotos CEO: The merger with Orlen will be beneficial for companies, but it will take a while

The Lotos Group recognizes the idea of ​​joining PKN Orlen as good and more beneficial for Gdańsk than Płock. At the same time, it reminds that it requires the consent of the European Commission.

– We are a company listed on the stock exchange. Owners can buy and sell. We answer our shareholders. We will implement the strategy we have written – assured Marcin Jastrzębski, CEO of Grupa Lotos. – Taking into account the press releases of Orlen, we are just starting work on this process, we intend to participate in them. Everyone who is interested in the market has no doubt that such a combination is beneficial for these companies.

According to the President of Lotos, obtaining consents from the European Commission will last 6-12 months. Then the “owner” will be able to make a decision.

– The connection of companies will be more beneficial for Gdańsk than tfor Płock. We are well prepared – declared Jastrzębski.

– The fight with the gray zone has helped, but we can not just base the future of both companies on it – added the CEO of Lotos. – Lotos’s advantage concerns logistics. We have a certain advantage over Orlen because of the location by the sea, but this of course also means logistic weakness in the products segment. It’s a great field for synergy – he said.