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Polish Briefing 10 May, 2018 9:00 am   
Editorial staff

Polish Briefing: The cancellation of the US-Iran agreement is neutral for Lotos

What goes on in Poland on the 10th of May.

The cancellation of the US-Iran agreement is neutral for Lotos

Krzysztof Kopeć from the communication office in the Lotos Group informed on one of the social networks that breaking the nuclear contract with Iran by US President Donald Trump will not hurt the Gdańsk oil company.

In the commentary for BiznesAlert.pl Kopeć said that the operations of the Lotos Group are of strategic importance for the Polish economy and security in the energy sector, which is why the company is in contact with many trading partners around the world, including the National Iranian Oil Company.

– The president’s decision is neutral for Lotos because the company has no contracted supplies from Iran. It should be emphasized that Grupa Lotos implements its plans for crude oil purchases and the policy of diversifying supply directions based on economic objectives and taking into account specific conditions on the international raw materials market – commented the company’s representative.

In December 2017, the Lotos Group announced the signing of a forward contract for the supply of American crude oil to the refinery in Gdańsk. The contract is being carried out in 2018. The closest transport of American crude oil will reach Gdańsk at the end of May this year. In addition, LOTOS also imports various types of crude oil from Russia, the Middle East and Africa. The current production also uses raw material extracted by subsidiaries of the LOTOS Group from its own deposits in the Baltic and Lithuania, and obtained from other suppliers from Polish land deposits, as well as from the North Sea.

Nord Stream 2: Poland pleads Denmark’s case

– Denmark should not be alone in making a decision on Nord Stream 2. The European Union must help Denmark – said the Deputy Minister of Foreign Affairs of the Republic of Poland Konrad Szymański in an interview for the Danish daily Børse.

In the European Parliament, work on the amendment of the gas directiveis underway. It will make it possible to submit EU gas pipelines from third countries to the EU. Nord Stream 2 will then be subject to the provisions of the third energy package. Denmark and Poland belong to the group of countries in the EU that are afraid of the negative impact of this investment on the security and stability of gas supplies to Europe.

Nord Stream 2 is to pass near the Danish island of Bornholm through the territorial sea of ​​this country. Nord Stream 2 AG has applied to the Danish authorities for a permit to locate the gas pipeline across the country. The decision was to be made by the end of April, but it has not been released so far. Nor did neighbor Sweden decide to take the decision. At the end of November last year, the Danish parliament adopted a law that allows the government to reject pipeline projects due to reservations regarding security policy or foreign policy. It entered into force on January 1 this year.

Konrad Szymański said that Europe must do more as a community. – It should not leave countries like Denmark alone with a decision on this matter. Denmark is on the front line, but the project is about the entire Union – said Konrad Szymański.

Danish Prime Minister Lars Løkke Rasmussen stated that Denmark can not prevent the construction of the gas pipeline, but only can delay it. – We have no legal possibilities to prevent this project from being created. However, we have the option, if appropriate, to delay this project by legal means, because we will be able to prevent this investment south of Bornholm – said Prime Minister of Denmark during the April visit to Berlin.



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