Letter from President of the Management Board
Ladies and Gentlemen,
Another hard-working year has passed, during which we focused on the development of GAZ-SYSTEM S.A. We have completed the implementation of the investment programme for 2009-2015 which covered the construction of the LNG Terminal in Świnoujście and more than 1200 km of new gas transmission pipelines located mainly in northern-western Poland. The LNG Terminal opens up new business possibilities for GAZ-SYSTEM S.A. Most of all, the Company has a chance of increasing its transit role in this part of Europe. But this is conditioned by a direct access to new areas of natural gas production, appropriate development of gas infrastructure in Poland and development of international connections.
That is why we commenced work on the construction of connections with new areas of natural gas production – most of all, the Norwegian corridor and the Baltic-Pipe gas pipeline forming its part. We are also analysing a possibility of extension of the LNG Terminal, and we are continuing work on the construction of interconnectors with neighbouring countries.
In the perspective of up to 2025, we are planning to build more than 2000 km of new gas pipelines which will constitute the main axis of the North-South Corridor in the Eastern and Central Europe. These activities will strengthen the power security of Poland to the level which we could not even dream about a few years back, and, at the same time, they will constitute our contribution to the development of the European natural gas market. Our strategic activities will concentrate on such composition of all investments as to ensure not only power independence to Poland and freedom to take decisions about the import directions of the raw material, but also as to use our location in Europe and enjoy the business advantages it brings about.
It is worth noting that all projects of GAZ-SYSTEM S.A., characterised by a strong inter-system impact, on 19 November 2015, were granted the PCI status, i.e. the status of a “Project of Common Interest” in the European Union. This constitutes confirmation of conformity of the investment plans of GAZ-SYSTEM S.A. with the strategic goals of the power policy of the European Union and the high added value of those projects from the point of view of building competitive natural gas markets in the Baltic and Central European regions.
As a Company managing the key transmission infrastructure and the LNG Terminal, we have excellent conditions to endeavour to create a gas hub in Poland, i.e. a place where gas connections from various directions meet and where it is possible to conclude contracts by entities operating according to free-market rules. The development of the gas hub gives an opportunity to GAZ-SYSTEM S.A. of active creation of the market and, in the long run, to permanently reduce the costs of obtainment of natural gas for the Polish economy.
These activities would not be possible without the commitment and great contribution of work of the specialised personnel of our Company, and that is why, at this point, I would like to thank the Employees of the Company for their commitment and efforts for the benefit of GAZ-SYSTEM S.A.
At the end, I would like to encourage you to read our integrated annual report.Tomasz Stępień President of the Management Board
Letter from the Chairman of the Supervisory Board
Ladies and Gentlemen,
The principal objective of the Gas Transmission Operator GAZ-SYSTEM in 2015 was to pursue activities aimed at the improvement of Poland's energy security and ensuring the continuity of natural gas transmission.
It was possible to achieve this objective thanks to the completion of large investment projects, such as the construction of 1283 km of new gas transmission pipelines and the commissioning of the LNG terminal. Those investments helped improve the flexibility of gas transmission in Poland and contributed to the liberalisation of the Polish gas market. For GAZ-SYSTEM , new business areas opened up along with the growth of the customer base. The expansion of the Polish transmission system, including cross-border interconnections and reverse-flow services on the Yamal pipeline, significantly enhanced Poland’s technical capabilities for gas imports from the EU countries.
In order for this investment program to be effectively implemented, its financing had to be arranged in an optimum way. The company managed to become one of the biggest EU funds beneficiaries in Poland in the field of infrastructure investments.
Now, the company faces new challenges – the construction of 2000 km of gas pipelines in the western, southern and eastern parts of Poland as part of the North-South Gas Corridor, feasibility studies concerning the interconnections with Denmark and Ukraine, which will make GAZ-SYSTEM an increasing important gas transit player in the region.
My thanks go to the Management Board and all the employees of the company who contributed, during the past year, to the achievement of very good financial results and prominent position in the Polish and European economy. Specifically, I would like express appreciation for their professionalism and commitment which contribute to the company's development, value growth and continuous improvement of the quality of our services.
I truly hope that with its continued unwavering commitment to its responsibilities GAZ-SYSTEM will ensure the efficient operation of the national transmission system, and thus contribute to the security of gas supply and customer satisfaction.Andrzej Maria Herman Chairman of the Supervisory Board