Energy LNG 7 March, 2018 11:40 am   
Editorial staff

Lotos limits imports from Russia and invests in alternative fuels

During the Lotos Group conference on the results for the fourth quarter and the whole 2017, the CEO, Marcin Jastrzębski, announced that the company will invest in alternative fuels and that less and less oil from Russia reaches the Gdańsk Refinery.

– We have been pursuing a policy of diversification for several years. 2017 ended at 22 percent of the processing from directions other than Russian. This is just a start. The first quarter of this year shows much higher figures: 40 percent in the first quarter of 2017 are crude oil from a direction other than Russia – said Jarosław Kawula, vice president of Grupa Lotos for production and trade.

In 2017, Lotos received the first oil from the USA and signed a forward contract for deliveries from this direction – reminded Kawula during a press conference.

The CEO Marcin Jastrzębski announced that Lotos Lab, which has become an entity of the R&D sector, will invest PLN 500 million to analyze the potential of involvement in the LNG, hydrogen and electromobility sectors. However, Jastrzębski stressed that work in this direction is still under way.