We plan to start distributing dividends as early as during the period covered by our new strategy. It’s not likely to happen next year, though, given that our shareholders have recently agreed to back our multi-billion investment programme with their own money, counting on measurable benefits in the future. The first dividend payments may be modest, but we will try to increase them gradually.
The energy union initiative proposes many good solutions, such as infrastructure expansion for energy market purposes. My hope is that the European Union will adopt a highly pragmatic approach when drafting directives implementing this project.
Dziennik Gazeta Prawna daily talks to Paweł Olechnowicz, CEO of Grupa LOTOS S.A.
Europe has set itself very strict GHG emission standards, largely to the detriment of its economic development. And in the context of the Ukraine crisis it is worth remembering that the stronger the economy, the better it can be protected, writes the Grupa LOTOS CEO.
The Russia-Ukraine conflict has aggravated the risk associated with energy supplies from countries to the east of the EU border. Despite a sufficient market supply of both natural gas and crude oil, importers can hardly avoid additional costs in the event of any disruptions in supplies from Russia. In other words, it would take time and money to afford this solution. This is why it's high time for Poland and the rest of Central Europe to start thinking seriously about their energy security.
By giving priority to the climate policy over the energy and industry policies, the European Union condemns itself to the loss of competitiveness and deindustrialisation, participants of the '29 +1' Energy Summit in Bucharest, Romania, agreed.
Comment by Paweł Olechnowicz, CEO of Grupa LOTOS and Chairman Board of Directors Central Europe Energy Partners.
Paweł Olechnowicz, Chairman Board of Directors Central Europe Energy Partners comments.
Above all, a responsible energy policy must take account of the differences in the economic development across the European Union, writes Paweł Olechnowicz, President of Grupa Lotos.
Paweł Olechnowicz, Chairman of the Board of Directors of Central Europe Energy Partners
A common perspective on the future of the European energy sector is emerging very slowly. In its development it is necessary to be both creative and responsible so as to disturb sustainable development
The public debate about the future of the energy sector in Europe is unfolding slowly, but even now one can see that it will be one of the most difficult – and most important – arguments of the coming years, not only in the EU, but also globally.
PAWEŁ OLECHNOWICZ is Chairman of the Board of Directors of Central Europe Energy Partners (AISBL), and President of the Management Board of Grupa LOTOS