The Poles might sell Orlen Lietuva

Posted by editor on 9/21/09 • Categorized as Eastern/Central Europe, Energy • Print This Post •

Orlen2 The largest Lithuania’s tax payer, oil refinery Orlen Lietuva (former Mazeikiu Nafta) could change hands, the Polish media reports. The Polish PKN Orlen, which bought the majority stake in the refinery some three years ago, is not satisfied with its investment and it might sell its stake if the Lithuanian Government will not agree to sell Klaipedos Nafta (Kalipeda Oil) oil terminal to them.

The Lithuanian Government so far refused to give up Kalipedos Nafta to PKN Orlen.

The Polish Treasury Vice-Minister Mikolaj Budzanowski said to the Polish Rzeczpospolita daily that ‘We expect specific actions from the Lithuanian government. We are strategic partners in the European Union. We speak about energy matters in a single voice and suddenly it turns that our cooperation is not translating into relations at the corporate level on the issue important for PKN Orlen.’

The Vice Minister continued; ‘I feel mistrust from the Lithuanian side. The key decisions have not been taken yet. I have to admit that if the situation will not change, it is possible that PKN Orlen will have to conceder a different project’s scenario. No other options should be excluded.’