Polish energy sector diversified, resilient to shocks, minister says
Thanks to diversified fuel supplies and power generation capacities, the Polish energy sector is resilient to shocks, the energy minister said in the context of turbulence on global oil and gas markets caused by the US-Israeli war against Iran.
Milosz Motyka expressed his opinion during a Wednesday ceremony of signing agreements for the construction of two gas-fired power units by Poland's state controlled energy firm PGE.
"Events in the Middle East have a real impact on energy and fuel markets around the world, including Europe," Motyka said.
"Thanks to bold decisions, the construction of an LNG [liquefied natural gas] terminal, the decision to build an FSRU [Floating Storage Regasification Unit], the construction of a national gas network, diversified generation capacity, and the construction of the Baltic Pipe (a pipeline supplying natural gas from the Norwegian shelf to Poland - PAP), Poland has built a strong energy sector that is resilient to geopolitical shocks," the minister said.
"Diversification makes Poland completely secure in terms of gas and petroleum product supplies," Motyka pledged.
He admitted, however, that the war in Iran "must have an impact and has an impact on the prices of gas or oil on global markets, although it does not have a direct impact on the stability of supplies to Poland."
No Polish company imports oil through the Strait of Hormuz, Motyka said, speaking of the key shipping passage for tankers that Iran has blocked, warning it would fire on any vessels attempting to enter it.
On Saturday, Israel and the United States launched a joint military operation against Iran, targeting the country's military facilities and uranium enrichment installations as well as key government, military and security figures. Iran has retaliated by launching missiles on Israel, US military bases in the region and Washington's regional partners. (PAP)
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