Will PKN Orlen buy its rival PGNiG? Everything will depend of the European Commission

Polish largest refiner PKN Orlen considers taking over of its rival PGNiG. PKN Orlen Chief Executive Daniel Obajtek plans to ask the European Commission for approval of the takeover this year.


When Daniel Obajtek became PKN Orlen Chief Executive in 2018, he announced his plan to take over its smaller rival Lotos. acquired utility Energa this year. During his tenure, acquisition of utility Energa took place. And the director has recently announced his plan to buy Poland’s largest gas company PGNiG

The strategy is in line with the ruling Law and Justice (PiS) on creating strong national players and increasing state control over Polish economy. “We are going really fast. Till the end of 2020, we plan to request the European Commission for approval takeover PGNiG,said PKN Orlen Chief Executive Daniel Obajtek to Reuters

If the European Commission does approve the acquisition, PKN Orlen could get among top European gas companies. Such a position would allow the company to enter other European markets, such as Estonia, Ukraine or even some markets out of Europe. Moreover, some analysts believe that negotiation position against Russian Gazprom would grow. 


Please enter your comment!
Please enter your name here