New gas agreement gives hope to Poland chemical privatisation

Good news for Poland’s chemical industry this week as a long term gas supply agreement is finally signed off, guaranteeing feedstocks for many chemical firms there. Lack of an agreement could have threatened the privatisation of the country’s second-largest Polish fertilizer producer Zaklady Chemiczne Police (ZChP), and others currently under offer.

According to ICIS news, Under the ‘Yamal contract’, Gazprom has agreed to increase annual gas supplies to Poland to a maximum of 10.2bn cubic meters a year. Without it, Poland, which imports about two-thirds of its gas from Russia, would from this year lack 2.5bn cubic metres. The gas deal still needs to be approved by Warsaw, but the treasury ministry said the government stood ready to sign it.

Image credit http://www.sxc.hu/photo/579069

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