Polish Briefing 27 May, 2020 9:00 am   
Editorial staff

Polish Briefing: Lotos and PSE join forces on a hydrogen project

What goes on in Poland on the 27th of May.

Lotos and PSE join forces on a hydrogen project

The Lotos Group is launching a research and development project regarding electrolysers and their integration in the energy market. During its implementation, it will cooperate with Polish Power Grids (PSE), the transmission system operator in Poland responsible for balancing the National Power Grid. Thanks to this project, Lotos wants to get more involved in alternative fuels, including hydrogen.

Both of these companies with the majority shareholding of the Treasury intend to sign a letter of intent in this matter in the coming days. Cooperation with PSE is another example of the search for the development of alternative fuels by Lotos after signing a letter of intent with the city of Tczew for the supply of hydrogen for fuel cell buses and the feasibility study of a small-scale LNG terminal in Gdańsk.

The reform of ownership supervision important for the takeover of Lotos by Orlen will be consulted

Puls Biznesu informs that the quarantine of the deputy prime minister and minister of state assets, Jacek Sasin, delayed the adoption of bills on the reform of corporate governance, but could be consulted next week.

There are four bills amending the group law, the role of supervisory boards, information obligations and commercial law. The government wants to facilitate the management of large state-owned companies and thus prepare for further acquisitions on the market, such as the merger of Orlen and Lotos. The process of taking over Lotos by Orlen is still awaiting the European Commission’s approval for concentration. The decision is to be made on July 22.