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At today's "We Change Polish Industry" Forum, the Minister of Treasury Mikołaj Budzanowski presented the concept of Polish energy industry for the next coming years.

During "We Change Polish Industry" Forum, held in Warsaw on 10 February and organized by the economic monthly "Nowy Przemysł“, Mikołaj Budzanowski announced the development of a specific, rational and balanced investment program for the Polish energy industry, to be drawn up in the next few weeks. Referring to the reality, he remarked that from the standpoint of the Ministry of Treasury, it is an absolute priority to delete the term "delay" from the investment vocabulary of energy companies. He also stated that the plan providing for expenditure of over 100 billion zloty requires doing everything possible to make that amount well spent.

Another important issue raised during the Forum by the Minister of Treasury was the reliability of regulatory environment. The Minister pointed out that investors, including state-owned companies, do not feel confident with interpretation of regulations, which prevents them from reliable assessment of an investment. Thus, it is difficult for them to predict its profitability. This concerns mainly the implementation of the climate-energy package or the drafts of gas and energy laws. Among the key drafts that should be passed by the Sejm, he mentioned the Act on transmission corridors and a draft aiming at liberalisation of the gas market.

Minister Budzanowski also referred to the issue of involvement of state-owned companies which are to jointly explore shale gas: "There are ongoing negotiations among the state-owned companies, which are to end in April 2012. It will involve conclusion of specific contracts for the commencement of drilling operations in northern Poland". He also specified the extraction area: "It is not worth to disperse efforts in various parts of the country. Our strategy is to focus our operations in northern Poland, so that we can begin extraction of gas resources as soon as possible". The development of shale gas industry is to cause that Polish consumer will pay far less for the fuel than today. An example is the U.S. market, where gas is available today for the amount of $ 85, whereas in Poland, individual recipient pays for it $ 500 - explained Mikołaj Budzanowski.

Ministry of Treasury
Krucza 36 St. / Wspólna 6 St., 00-522 Warsaw, tel. centrala: +48 (22) 695-80-00, 695-90-00 fax centrala: +48 (22) 628-08-72, 621-33-61

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