ORLEN has joined forces with 13 energy companies and organisations from Northern and Central Europe to establish the Baltic Energy Initiative. The partners will work together on projects designed to strengthen energy security and competitiveness across the region, covering offshore wind, LNG and bioLNG, hydrogen, carbon capture and storage (CCS), nuclear power and small modular reactors (SMRs).
The challenges facing the energy sector today are too great to be addressed by individual countries or companies acting alone. The Baltic Energy Initiative will allow us not only to take part in major energy transition projects, but also to influence their direction. By bringing together the expertise, infrastructure and investment capabilities of European companies, we can strengthen energy security, make better use of available funding, and enhance the competitiveness of the Baltic Sea region,' said Ireneusz Fafara, CEO and President of the Management Board of ORLEN.
The agreement has been signed by 14 organisations from: Poland, Finland, Sweden, Denmark, Germany, Lithuania, Latvia, Estonia and Norway. Alongside ORLEN, the signatories are Eesti Energia, Enefit, Fortum, KN Energies, DNV Energy Systems, Topsoe, Siemens Energy, Adven, Steady Energy, P2X Solutions, Latvenergo, Gasgrid Finland and Orsted.
The Baltic Energy Initiative will serve as a platform for pooling expertise, sharing experience and working together to develop projects with an international reach. The priorities include offshore wind, closer integration of the LNG and bioLNG markets, the creation of a regional hydrogen market, carbon transport and storage, and the development of small modular reactors. The partners will also cooperate in seeking funding from European Union programmes and other international sources.
For ORLEN, the initiative offers an opportunity to establish partnerships around projects that are important to the Group’s transformation and to help shape solutions that will benefit the wider market. Working together can facilitate cross-border projects, knowledge sharing and the development of recommendations on regulations and support mechanisms. This is particularly relevant to areas in which ORLEN is expanding its own capabilities and assets: offshore wind, LNG, hydrogen, CCS and nuclear power.
Protecting energy infrastructure will be another key focus for the newly established partnership. The participants will share experience in critical infrastructure protection, cyber security, emergency preparedness, and responses to physical and hybrid threats. They will jointly assess projects that could make energy infrastructure more resilient and explore potential sources of financing.
The Baltic Energy Initiative is also intended to give the region’s energy sector a stronger say in discussions with European institutions by providing a forum for developing common positions and recommendations on regulatory matters, investment and support mechanisms for strategic projects. Speaking with a common voice will help the partners communicate their shared needs more effectively and ultimately unlock more of the Baltic Sea region’s energy potential.
Source: ORLEN
