ORLEN and its Ukrainian counterpart, Naftogaz Group, are expanding their strategic cooperation. The companies have signed a memorandum on collaboration in extraction projects, downstream segment development, and strengthening cross-border and trade relations. This cooperation will enable Ukraine, among other benefits, to diversify its sources of supply—not only for gas but also crude oil—and gain access to alternative fuels. The agreement was signed during Ukraine’s largest oil and gas industry conference, Newfolk Oil&Gas, held in Lviv.
“The signed agreement is further proof of the successful implementation of our strategy. ORLEN is becoming a key player for energy security not only in Poland but across the entire region. After starting deliveries of American LNG to our Ukrainian partner, it is time to deepen our cooperation. Together, we can achieve more,” said Ireneusz Fąfara, CEO of ORLEN.
“I believe we can take our cooperation to a completely new level. I am grateful to our Polish partners, especially the CEO of ORLEN, for the constructive dialogue and sincere support for Ukraine,” said Sergii Koretskyi, CEO of Naftogaz.
Under the memorandum, the companies will work to increase natural gas deliveries from Poland to Ukraine and develop and support oil and gas extraction projects. These projects will enhance the raw material security of our partners and allow for greater flexibility. Naftogaz will also benefit from ORLEN’s experience in modernizing the Kremenchuk oil refinery and restoring gas assets damaged during the war. The parties will also pursue joint investment projects related to fuel sales and the development of the biofuels segment.
The Lviv memorandum is the second cooperation agreement between the companies. Under the first, ORLEN signed three LNG supply contracts with Naftogaz for a total volume of 300 million cubic meters of gas destined for Ukraine.
The ORLEN Group sells petroleum products to Ukrainian customers, including gasoline, diesel fuel, and asphalt. Additionally, it provides servicing for companies in the upstream sector.
Naftogaz Group is the largest state-owned oil and gas enterprise in Ukraine, covering the entire value chain—from exploration and extraction through transport and storage to gas and oil sales. The company plays a key role in ensuring the country’s energy security and is one of the largest taxpayers. Despite the ongoing war, Naftogaz is increasing raw material production and focusing on reducing Ukraine’s dependence on gas imports by maximizing domestic extraction.
Source: https://ceo.com.pl/orlen-i-naftogaz-rozszerzaja-strategiczna-wspolprace-59172
