Polish Briefing 28 March, 2022 7:30 am   
COMMENTS: Mateusz Gibała

Polish Briefing: PGNiG to continue building gas reserves after merger with Orlen | KGHM is joining the French in the game of offshore


What goes on in Poland on the 25th of March.

PGNiG will continue to build up gas reserves after the merger with Orlen

PGNiG took a position on the decision of the Office of Competition and Consumer Protection (UOKiK) on the terms of the takeover of this company by PKN Orlen. The obligation to transfer storage management to another company does not change the fact that it will still have to be recovered in the event of a crisis, especially in view of the Russian invasion of Ukraine.

“The decision of the Office of Competition and Consumer Protection requires the entity established as a result of the acquisition of PGNiG by PKN Orlen to sell Gas Storage Poland, which acts as the Gas Storage System Operator. At the same time, the President of UOKiK indicated that the buyer of GSP must guarantee that the operator will act in a manner that takes into account Poland’s energy security,” explains PGNiG in response to a question. “The acquired entity will retain ownership of the storage facilities currently owned by PGNiG. Therefore, it will be able to continue expanding its storage facilities as an investor, just as PGNiG has done so far. The actions of PGNiG in this respect result from the Group’s strategy, according to which the storage capacity should be adjusted to the domestic demand for gas fuel,” it has been explained.

KGHM is joining the French in the offshore game

The Polish KGHM has applied for a license for offshore wind farms in the Baltic Sea in cooperation with the French Total Energies.

“We applied for the first offshore license, we did it with a French business partner. As for 10H, we submitted our applications to the ministries as part of consultations. We are waiting for the results of the legislative process,” said Marcin Chludziński, president of KGHM, at the company’s results conference.