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UNIMOT GAZ WILL BEGIN CONDENSATION OF NATURAL GAS

Date of publication: 13.05.14

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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.

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