The possibilities of investing in renewable energy infrastructure, the progress of the ongoing investment in Mažeikiai, the position in the Lithuanian and Baltic market, as well as development plans – these were the main topics discussed during today’s meeting between the Prime Minister of Lithuania, Ingrida Simonite, and the President of the Board of ORLEN, Ireneusz Fąfara.
Currently, ORLEN Lietuva is realizing an investment worth EUR 970 million in an installation for the advanced processing of crude oil, which will strengthen the production potential of the refinery in Mažeikiai.
“Lithuania is a strategic market for the ORLEN Group. It is here that one of the most modern refineries operates which, after completing hydrocracking investment, will increase the production of high-margin products by 12 percentage points, strengthening the energy security of the Baltic countries. This is a particularly close investment to me, as the president of ORLEN Lietuva I have been involved in its preparation process from the beginning. At the same time, we are thinking about further development opportunities in the Lithuanian market, especially in the context of renewable energy sources. Energy obtained from RES will not only guarantee stable sources, but will also support the decarbonization of our refinery assets,” said Ireneusz Fąfara, President of the Board of ORLEN.
ORLEN also sees potential in the development of offshore assets in Lithuania. Plans related to the development of renewable energy also include the possibility of investing in the production of green hydrogen. The company is also analyzing the possibility of investing in land-based wind and photovoltaic farms, which would be located near the refinery in Mažeikiai.
ORLEN Lietuva is the largest tax payer in Lithuania. Since 2006, ORLEN has spent nearly $4.5 billion on the purchase and modernization of refineries. ORLEN directly employs about 1,500 people, being the most important employer in the Mažeikiai region and one of the key employers in Lithuania. ORLEN also owns a terminal in Butyndze, through which crude oil is imported – this is a very important pillar in the supply chain, and also owns the Mockava terminal – a transshipment station used for the export of products to Poland and Ukraine.
Source: https://managerplus.pl/orlen-zwieksza-inwestycje-w-mozejkach-i-rozwija-oze-na-litwie-strategiczne-plany-w-regionie-baltyckim-70972
