CP Energia plans to spend PLN 300m within three years

opublikowano: 08-02-2007, 16:40

Warsaw (Puls Biznesu) – CP Energia makes business with Russian Gazprom and Polish PGNiG gas monopoly. The small company has big ambitions.

Warsaw (Puls Biznesu) – CP Energia makes business with Russian Gazprom and Polish PGNiG gas monopoly. The small company has big ambitions.

 

CP Energia, the gas distributor, today buys most of its gas from PGNiG. In the future, 50 percent of its deliveries will come from the gas monopoly. It needs investment, however. The company plans an IPO before summer holidays. It needs several dozens million zloty. It remains secret, what stake will be published. Today, 50 percent of CP Energia is owned by listed Capital Partners, and the remaining shares are owned by PL Energia, a company of Piotr Buszki, CP Energia ex-CEO.

“The owners are interested in further development of the company and are not planning to sell their stakes. The value of the issue will be published when we prepare the prospectus”, Marcin Buczkowski, CP Energia CEO said.

The document should be ready in March.

 

CP Energia is going to invest PLN 100m (EUR 25.8m) annually in the upcoming three years. The company wants to develop its network. It has 100km of gas pipes and soon will have 170km.

“We are no rival to PGNiG. We are looking for clients who are not attractive for the giant. But it’s not easy to operate. We wait 18 months to get access to the national gas transmission network”, Marcin Buczkowski said.

CP Energia buys also LNG from Krio, PGNiG’s subsidiary and Kriogaz, Krio’s subsidiary. CP Energia buys gas from Kriogaz with the participation of Gazprom.

(PLN 1 = EUR 0.258)

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