CP Energia to source own natural gas supplies

It currently sources its LNG supplies from the Polish Oil and Gas (PGNiG), however, in the future the company plans to obtain 50% of its supplies in-house. Due to this, CP needs to generate a substantial amount of funding, most likely to be obtained by floating on the bourse in H1. "The owners are interested with further development of the firm and do not plan to dispose of the shares," said Marcin Buczkowski, president of CP Energia. "Size of the share issue will be announced following the preparation of an issue prospectus." The enterprise intends to invest zl.100 million annually over the next three years for the expansion of its network. Currently it owns 100 km of pipelines with this figure likely to increase to 170 km soon. "We are not a competitor to PGNiG. We are looking for clients that are not attractive for such a large company," added Buczkowski. (Puls Biznesu, pp.1, 9) M.M.