The Moscow Times
Independent gas producer Novatek has become the second Russian presence on the Polish gas market after buying storage facilities and a retail network for liquefied petroleum gas from Statoil Fuel & Retail Polska.
The acquisition will allow Novatek to tap the Polish LPG market, which is estimated at more than 500,000 tons per year and worth over 300 million euros ($396 million), Kommersant reported.
Poland currently receives 60 percent of its gas, 16 billion cubic meters each year, from the Russian state-owned gas titan Gazprom.
Novatek’s local subsidiary Novatek Polska announced the purchase on Monday without disclosing the deal’s value.
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