ORLEN is actively expanding its presence in Norway to bolster Poland’s energy security

The ORLEN Group is strengthening its position in Norway and preparing to launch production from new fields. Over the next few months, the Group is set to start production from the Tommeliten Alpha field, which will yield an additional 0.5 billion cubic meters of natural gas annually. This is one of nine investment projects undertaken in the past two years to enhance the ORLEN Group’s gas production on the Norwegian Continental Shelf. The gas extracted from the new fields will be transported to Poland through the Baltic Pipe pipeline, reinforcing the country’s energy security and independence.

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ORLEN to store carbon dioxide beneath seabed

The ORLEN Group will offer customers new services related to the collection and management of industrial carbon emissions. CO2 storage in Poland, including beneath the Baltic Sea floor, will be essential to sustaining the competitiveness of the country’s industries with high emission costs. The ORLEN Group intends to leverage the experience gained in the Barents Sea to develop these services To that end it has entered into a partnership with Norway’s Horisont Energi AS to explore potential collaboration on a project standing out as one of the most advanced CCS initiatives on the Norwegian Continental Shelf.

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The results of the combined ORLEN Group for the second quarter of 2023

The retail segment’s contribution to ORLEN Group’s second-quarter result was modest again due to factors including a decline in fuel margins. Sales at fuel stations in Poland represented merely around 1% of LIFO-based EBITDA from the beginning of the year. Also sales of the refining segment more than halved compared with the prior quarter. The combined ORLEN Group generated around PLN 75bn in revenue, with a net profit margin of only 6% (PLN 4.5bn). This proportion is close to the level posted prior to the war in Ukraine. The result was achieved through consolidation with Grupa LOTOS and PGNiG, and best reflects the strong position of the ORLEN Group, which was one of the five fastest advancing companies in the Fortune Global 500 ranking. The scale-up of the combined ORLEN Group’s operations also increases tax revenue streams to the state budget. As Poland’s largest tax payer, ORLEN has already paid PLN 36.5bn in taxes in the first six months of this year, about PLN 20bn more than in the same period last year. This means that with the completed acquisitions and investment projects underway, a large and strong ORLEN genuinely contributes to the sustainable economic and social advancement of Poland.

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ORLEN increases LNG import capacity

ORLEN will be able to receive up to 58 shipments of liquefied natural gas per year at the Floating Storage Regasification Unit (FSRU) terminal to be built in the Gulf of Gdansk. The company has finalized an agreement with GAZ-SYSTEM to reserve a regasification capacity of 6.1 billion cubic metres (bcm) per year at the Gdansk terminal. This is another step in the process of strengthening the energy independence of the country and the region.

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Baltic Power offshore wind farm with conditional investment decision

ORLEN's Supervisory Board has made a conditional investment decision for the Baltic Power offshore wind farm, enabling the finalisation of the design phase. The construction phase is planned to start later this year after the completion of the financing process and completion of construction permits. The joint investment of ORLEN and Northland Power at this stage is the most advanced offshore wind project in Poland.

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ORLEN becomes No. 1 fuel brand in the Czech Republic

By the end of this year, nearly 90% of the service stations operating under the name Benzina in the Czech Republic will be rebranded as ORLEN, in a step marking the final stage of a process initiated a few years ago to introduce the ORLEN brand in this market. The ORLEN Group has the largest network of 436 service stations on the Czech market and enjoys a leading position in alternative fuels.

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ORLEN Group’s investment in Mažeikiai gathers pace

An Italian-designed reactor, which lies at the core of investments in deep crude conversion, has arrived in Lithuania. This key component of the hydrocracking unit will be transported to ORLEN Group’s refinery in Mažeikiai within the next two weeks. The new plant will make it possible to increase the output of high-margin products as early as 2025, thereby enhancing the profitability of the Lithuanian facility and bolstering the energy security of the entire region.

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New wind farms in ORLEN Group

The ORLEN Group has entered into a conditional agreement with EDP Renewables Polska for the purchase of three wind farms in the Wielkopolska region with a total capacity of 142 MW. Additionally, there is an option for photovoltaic development up to 159 MW that can be implemented, inter alia, on the basis of cable pooling. The farms launched in 2021 and 2022 can supply clean energy to as many as c. 240 thousand households annually. The assets being acquired are not only among the most modern, but also the most effective wind farms in Poland. They are powered, among others, by 4.2 MW turbines, one of the largest currently used in Poland. The transaction is expected to be finalised later this year.

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ORLEN Group strengthens renewable energy segment

ORLEN Group plans further RES investments in the Poznań Province. Energa Wytwarzanie of the ORLEN Group has signed a preliminary agreement with Greenvolt to purchase a wind farm and four photovoltaic installations. The projects under development have a total capacity of 59 MW and, once the sale is finalised, will join the renewable energy sources of about 700 MW already operating in the ORLEN Group.

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