Strength in numbers

Any country that wants to ensure its energy security needs to look for resources that are independent of political decisions, rather than invest in pipelines which could remain empty. That was the conclusion of panelists at the Economic Forum in Krynica during a discussion on global energy security and Poland's decision to invest in the Odessa-Brody-Płock pipeline.

"I would be very careful in calling the Odessa-Brody pipeline a success already. Such agreements are an extremely complicated process," said Tamas Seregi, manager of Boston Consulting Group Hungary.

The panelists agreed, however, that businesses and politicians in CEE countries should cooperate to try to ensure the region's energy security.

"A big problem is that while Eastern Europeans are looking to become less dependent on supplies from Russia, Western Europe wants closer cooperation with Russia to diversify the supplies they get from other sources," said Wojciech Wróblewski, PKN Orlen CEO's strategy advisor.

Wróblewski and Seregi pointed out that while other countries in the region are wholly dependent on Russian oil, 61 percent of Polish energy needs are covered by coal and only 20 percent by oil. This situation is not entirely positive, though, as requirements to limit CO2 emissions will soon force Poland to change the ratio.

Still, Maciej Gierej, former CEO of Nafta Polska, believes the situation could be reversed to Poland's advantage. "Technologies have appeared which enable the transformation of coal into hydrogen, which is a great energy source and is perfect for all kinds of industrial syntheses," Gierej told WBJ. "If our coal industry is to be able to rationalize the costs of coal extraction, then it's worth considering."