UNIMOT GAZ WILL BEGIN CONDENSATION OF NATURAL GAS

Date of publication: 13.05.14

The company UNIMOT GAZ became co-owner of the liquefaction train. Start of LNG production is planned in the next quarter.

At the beginning of May UNIMOT GAZ SA made a significant investment on the gas market. Company bought shares of entity who has liquefaction of methane along with infrastructure. Thanks to this investment UNIMOT GAZ SA became co-owner one of the five liquefaction trains in Poland.

– We have very specific and ambitious goal regarding scope of activity on the natural gas market, which implementation we have just begun – says Przemysław Podgorski , Member of the Board of UNIMOT GAZ SA – To speed up works ,in order to start up production of liquefied natural gas , we have invested in company who owns station of condensation of methane.

We would like to remind, that in February this year our company announced its growth strategy for the coming years , which expects to achieve a significant position in the gas market , for example by the production of LNG , as well as the development of the distribution network based on the acquisition of existing networks and build their own LNG regasification network . The Company intends to pursue its investments in so-called “blank spots “ or areas without access to natural gas delivery infrastructure . It is estimated that approximately 48 % of the population of our country have no access to line gas . Purchase of liquefying methane installation, is a significant step in company’s project execution.

– Installation of liquefied methane gas station, which our company is co-owner, will enable for continuous supplies of liquefied natural gas (LNG) and allow to optimize gas collection by the Company, which will have a significant impact on the costs associated with gas transmission. Installation has been designed also in terms of the generation and loading of CNG (compressed natural cold), so that natural gas will be transported to any place, without having to build transmission infrastructure – says Przemysław Podgorski. – Have your own liquefaction train will allow the Company to become independent from external sources of supply of liquefied natural gas. It will also improve security of supply of this fuel, which mostly is imported to our Country.

One of the demanding stages of the investment is finish the construction and assembly work related to the installation. Funds for this purpose will come for example from share capital of the subsidiary increased by Unimot Gaz S.A.

According to the assumptions , the installation will start in the third quarter of 2014.

It is worth noting that this is another important investment of the Company, which has conducted lately. One month ago subsidiary of UNIMOT GAZ SA purchased a new entity, appointed to act in one of the Podlaskie province in relation to liquefied gas fuel sector. Company has signed letters of intent with potential customers and provided financing of the construction of network and regasification stations.

In addition, the Company plans is to expand its distribution network in the new areas. It will be based on earlier projects which have been developed and permissions issued. In the near future subsidiary of UNIMOT GAZ SA will provide acquisition of functioning 25-kilometer gas network, which distributes natural gas to less than 100 unlimited customers and households.