Polish energy firm Orlen and Ukrainian state-owned gas company Naftogaz have signed a memorandum of understanding (MoU) seeking to increase natural gas deliveries via Poland to Ukraine and to advance joint projects in oil and gas extraction.
The MoU marks the second cooperation agreement between Orlen and Naftogaz. Under the first agreement signed in March, Orlen concluded three contracts to supply a total of 300 million cubic metres of LNG to Ukraine.
The latest cooperation deal between Orlen and Naftogaz was signed during the Newfolk Oil & Gas conference held in Lviv in Ukraine, Orlen said in a press release on Monday.
"The envisaged cooperation will bolster Ukraine's energy security by broadening the diversification of its supply sources – not only for natural gas, but also for crude oil – while opening avenues for the adoption of alternative fuels," Orlen said.
The Orlen Group currently supplies Ukrainian customers with refined petroleum products such as gasoline, diesel, and bitumen, and also provides specialized services to operators in the upstream sector, as per the statement.
