GAZ-SYSTEM takes over Gas Storage Poland

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Poland’s gas transmission system operator GAZ-SYSTEM signed an agreement with ORLEN to acquire 100 per cent of shares in Gas Storage Poland (GSP), the operator of the Polish gas storage system.

“The takeover by GAZ-SYSTEM of the company that operates the underground gas storage facilities will enhance the state oversight of the strategic gas infrastructure in Poland,” noted Maciej Bando, Government Plenipotentiary for Strategic Energy Infrastructure. “Thanks to this operation, the model of the Polish gas market functioning will be streamlined while maintaining the unbundling regime, thus guaranteeing transparency and competitive market operation for its participants.”

As Mr Bando explained, the Office of Competition and Consumer Protection (OCCP) “issued the decision to separate the gas storage operator from the ORLEN group in order to reduce the concentration of producer, supplier, seller and consumer activities within this company.”

“The acquisition of Gas Storage Poland by GAZ-SYSTEM is an optimal solution both in terms of flexibility of the national gas transmission system operation and the efficiency of investing resources in the development of gas storage capacity,” said Sławomir Hinc, President of GAZ-SYSTEM. “This process will result in increased integrity of the system through free management of storage capacity to meet the needs of market participants and to attend to potential crisis situations. The functioning of both companies in one capital group will also enhance cooperation between the transmission system operator and the storage system operator, which will translate into increased security of gas supply to consumers.”

Concentration of competences and tasks of the entities within the GAZ-SYSTEM capital group which manages the gas transmission system, the LNG Terminal and natural gas storage facilities will now make it possible to take consistent decisions ensuring effective financing and comprehensive development of this area.

The company also emphasised that both entities are involved in the implementation of hydrogen projects. GAZ-SYSTEM is planning to build the Nordic-Baltic Hydrogen Corridor and, in close cooperation with Gas Storage Poland, is preparing to build a cavern underground hydrogen storage facility. The synergy effects of both projects will have a positive impact on the implementation of the energy transition process in Poland.

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