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Orlen SAOrlen and Naftogaz cooperation to allow Ukraine to increase diversification of supply sources
The memorandum of cooperation concluded by Poland's largest energy concern Orlen and its Ukrainian counterpart Naftogaz is expected to allow Ukraine to increase the diversification of its supply sources not only in gas, but also in oil, as well as allowing access to alternative fuels, Orlen said in a press release.
The signing of the memorandum on cooperation in upstream projects, development of the downstream segment and strengthening of cross-border and commercial relations took place during the Newfolk Oil&Gas oil and gas industry conference in Lviv.
"The signed agreement is further proof of the effective implementation of our strategy. Orlen is becoming key to the energy security not only of Poland, but of the entire region. After starting the supply of American LNG to our Ukrainian partner, the time has come to deepen our cooperation," said Orlen's CEO Ireneusz Fafara, quoted in the press release.
Under the signed agreement, the companies will aim to increase Poland's natural gas supplies to Ukraine and develop and support the implementation of oil and gas production projects.
The signed memorandum is the second cooperation agreement between the companies. Under the first, Orlen concluded three contracts with Naftogaz for the supply of liquefied natural gas to Ukraine with a total volume of 300 million cubic metres.
doa/ ao/