Rotch Energy consortium purchase of RG one step closer

According to Nafta Polska president, Maciej Gierej, the sale of a 75% stake of Rafineria Gdanska (RG) to the Rotch Energy and Lukoil consortium is the right move. Gierej believes that the transaction would mark the beginning of increased exports for the Gdansk-based company. Lukoil has yet to confirm its participation in the deal, which would leave it with 49% of the 75% stake. According to Nafta Polska representatives, Lukoil will make its final decision after completing due diligence proceedings by June 18. Gierej believes that provided the deal goes through, the Russian investor will use RG to strengthen its position on the Baltic. According to unofficial i nformation quoted by Prawo i Gospodarka Lukoil is also interested in e xporting RG petrol to its 1,300 petrol stations in the USA. " It seems that increasing exports is a good idea for the development of RG," said Gierej yesterday. The decision to sell the refinery to a foreign consortium is a blow to Polish oil-giant PKN Orlen, which planned to merge with the smaller RG. (Prawo i Gospodarka, p. 2; Puls Biznesu, p. 7; Reuters) M.T.K.