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ORLEN Group invests in Lithuanian assets to reinforce its market position

In line with its strategy, Poland’s ORLEN Group is investing in Lithuanian assets to reinforce the market position of ORLEN Lietuva, its strategic subsidiary operating the Baltic Sea region’s only refinery, which already runs on crude oil sourced fully outside of Russia.

“Lithuania is for us an important business partner,” stated Daniel Obajtek, President of the PKN ORLEN Management Board. “We are forging stronger ties by opening to new cooperation opportunities. The current unsettling times present not only a challenge but also a big opportunity for further growth. We must make the most of it. This is why we are investing in a strong energy sector, based on state-of-the-art solutions and clean generation sources. We are gearing up to make investment decisions for energy projects in Lithuania, which will be vitally important to the entire region. We are staying in touch with our Lithuanian partners. Energy is yet another area for our collaboration, as energy security is a priority for both Lithuania and Poland.”

Wind capacity expansion is among the strategic development directions that will determine the ORLEN Group’s future. The Group has already invested in onshore wind projects in Poland and will be the first Polish enterprise to start the development of an offshore wind farm in the Baltic Sea. Also, Lithuania has offshore projects in the pipeline. The ORLEN Group intends to take part in the upcoming auction for the development of offshore wind farms with a capacity of 700 megawatts (MW) in the Lithuanian part of the Baltic Sea.

The Group is also looking into a potential investment opportunity to develop onshore wind assets with a total capacity of up to 57 MW near its Lithuanian refinery in Mažeikiai. Preparations are now underway to make the investment decision.

Aligned with ORLEN’s plans for wind power development in Lithuania is a possible investment in green hydrogen generation.

The Group also recognises the potential of the SMR technology, which it has already presented to its Lithuanian partners. These projects would mark further stepping stones in the ORLEN Group’s energy transition and pursuit of its ambition to achieve carbon neutrality by 2050, with the added benefit of strengthening the energy security of Lithuania.

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