GAZ-SYSTEM acquires Gas Storage Poland
On 28 June 2024, GAZ-SYSTEM and ORLEN signed an agreement whereby GAZ-SYSTEM acquired 100 percent of shares in Gas Storage Poland (GSP) – the operator of the Polish gas storage system. The takeover was possible following the decision issued by the President of the Office of Competition and Consumer Protection (OCCP) approving the transaction.
The sale is the result of the execution of the OCCP's decision of 16 March 2022 which granted consent to the merger of ORLEN S.A. and Polskie Górnictwo Naftowe i Gazownictwo S.A., on condition that the supervision of Gas Storage Poland sp. z o.o. would be taken over by an independent investor and GAZ-SYSTEM has been selected for this role.
- The takeover by GAZ-SYSTEM of the company that operates the underground gas storage facilities will enhance the state oversight of the strategic gas infrastructure in Poland. Thanks to this operation, the model of the Polish gas market functioning will be streamlined while maintaining the unbundling regime, thus guaranteeing transparency and competitive market operation for its participants. The OCCP issued the decision to separate the gas storage operator from the ORLEN group in order to reduce the concentration of producer, supplier, seller and consumer activities within this company – noted Maciej Bando, Government Plenipotentiary for Strategic Energy Infrastructure.
- Taking over the ownership of the natural gas storage operator by GAZ-SYSTEM, the company in which the State Treasury is the sole shareholder, will translate into enhancement of the country's energy security. Controlling the process of maintaining natural gas stock level in storage facilities is one of the key elements in ensuring the continuity of gas supply for the economy and individual consumers. Furthermore, GAZ-SYSTEM's ownership of Gas Storage Poland will enable it to initiate the expansion of storage capacity depending on the needs of the consumers – emphasised Maciej Bando.
- The acquisition of Gas Storage Poland by GAZ-SYSTEM is an optimal solution both in terms of flexibility of the national gas transmission system operation and the efficiency of investing resources in the development of gas storage capacity. This process will result in increased integrity of the system through free management of storage capacity to meet the needs of market participants and to attend to potential crisis situations. The functioning of both companies in one capital group will also enhance cooperation between the transmission system operator and the storage system operator, which will translate into increased security of gas supply to consumers – said Sławomir Hinc, President of GAZ-SYSTEM.
Concentration of competences and tasks of the entities within the GAZ-SYSTEM capital group which manages the gas transmission system, the LNG Terminal and natural gas storage facilities makes it possible to take consistent decisions ensuring effective financing and comprehensive development of this area.
It should be emphasised that both entities are involved in the implementation of hydrogen projects. GAZ-SYSTEM is planning to build the Nordic-Baltic Hydrogen Corridor and, in close cooperation with Gas Storage Poland, is preparing to build a cavern underground hydrogen storage facility. The synergy effects of both projects will have a positive impact on the implementation of the energy transition process in Poland.
Decisions of the OCCP No DKK-82/2022 of 16 March 2022 and DKK-134/2024 of 20 June 2024 are available on the Office's website under: Decisions of the President of the OCCP (Polish only).
