There is a government approval for the merger of Orlen and PGNiG

The Minister of State Assets, Jacek Sasin, announced on Twitter that the Council of Ministers agreed to the merger of PGNiG and PKN Orlen. The announcement on this matter also appeared on the website of the Chancellery of the Prime Minister (Chancellery of the Prime Minister).

The Council of Ministers has approved the merger of Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) and Polski Koncern Naftowy ORLEN, the Chancellery of the Prime Minister (KPRM) announced after Monday’s government meeting.

The law firm indicated that the merger of both companies will be an element of the consolidation process of the Polish fuel and energy sector companies including ORLEN, LOTOS and PGNiG. ORLEN will play a leading role in this process. The solution will contribute to the improvement of the energy security of Poland and the region, which is particularly important in the current geopolitical situation – assessed.

According to the Chancellery of the Prime Minister, the ongoing energy transformation in the world is a major challenge for companies in the fuel and energy sector, as it assumes a gradual departure from hydrocarbons and conventional fuels in favor of new and more sustainable energy sources. As a consequence, companies in the sector are forced to look for new, prospective business areas that will be able to guarantee them the possibility of long-term development.

Thanks to the consolidation of the fuel and energy sector, a strong Polish multi-energy concern will be created, with ORLEN playing a leading role. Using the synergy effect, it will be able to meet the challenges of the energy transformation and compete on the market with European and global companies. The new concern will become the largest company in Central and Eastern Europe – added.

As indicated, a Polish multi-energy concern will focus on diversifying the business and maintaining competitiveness in the long term. By 2030, the concern may become one of the largest integrated petrochemical producers in Europe.

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