Tauron sells gas operations to PGNiG

Modern gas blocks are important in the context of the growing use of natural gas in Poland.

Tauron Polska Energia and its subsidiary Tauron Wytwarzanie and Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) and its subsidiary PGNiG Termika signed a letter of intent concerning a potential sale by the Tauron Group to the PGNiG Group of shares in Elektrociepłownia Stalowa Wola (ECSW) and receivables from loans granted to ECSW by Tauron, the companies said.

“ECSW is a modern gas unit that meets very restrictive environmental standards, the operation of which over the next several dozen years is essential for the stabilization of Poland’s energy security. Therefore, for employees, the possible sale of our shares will have no consequences. PGNiG is a strong, stable and modern concern for which modern gas blocks are important in the context of the growing use of natural gas in Poland. The purpose of the sale of shares in ECSW is to organize the ownership portfolio of Tauron, which will enable the improvement of operational management and optimization of the use of gaseous fuel within the Tauron Group, ”said Jerzy Topolski, vice president of Tauron.

The signed letter of intent does not entail any obligation to conclude a transaction. Such a decision will depend on the results of negotiations in this respect and the fulfillment of other conditions specified in legal regulations or corporate documents, as indicated in the material.

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