Brief: Grupa Azoty Signs About 18 Bln Zloty Gas Delivery Contracts With PKN Orlen

Grupa Azoty Zaklady Chemiczne Police SA

21/06/2023 06:28

June 21(Reuters) - Grupa Azoty SA  ATTP.WA :
    * SAID ON TUESDAY THAT, TOGETHER WITH ITS UNITS, IT HAS
SIGNED
WITH PKN ORLEN AN ANNEX TO FRAMEWORK DEAL ON GAS FUEL SALE AND
NEW BILATERAL INDIVIDUAL CONTRACTS 
    * TOTAL ESTIMATED VALUE OF SAID CONTRACTS ATTRIBUTED THE
WHOLE
GROUP DURING THE 4-YEAR PERIOD OF APPLICATION WILL AMOUNT TO
ABOUT 18 BILLION ZLOTYS NET
    * SAID NEW CONTRACTS REGARD DELIVERIES DURING A 4-YEAR
PERIOD,
STARTING ON OCTOBER 1
    * SAID CONTRACTS WORK IN 3+1 FORMULA, IN WHICH DURING THE
LAST
YEAR OF CONTRACT'S VALIDITY THERE ARE NO FORESEEN PENALTIES FROM
CANCELLING IT AFTER 3-YEAR PERIOD
    * ADDITIONALLY, THE GROUP AND ITS UNITS HAVE SIGNED ANNEXES
TO THE
CURRENTLY ENFORCED INDIVIDUAL CONTRACTS 
    * UNDER SAID ANNEXES THE TRADING CONDITIONS OF GAS
DELIVERIES FROM
PKN ORLEN IN THE PERIOD OF JULY 1 TO SEPT 30 WILL BE PARALLEL TO
THOSE APPLIED IN THE NEWLY SIGNED CONTRACTS
    * UNDER THE ANNEX TO FRAMEWORK DEAL AND THE NEW CONTRACTS AT
LEAST
90% OF TOTAL DEMAND FOR GAS IN THE GROUP ARE TO BE SECURED
    * SAID FRAMEWORK DEAL WAS ORIGINALLY SIGNED ON APRIL 13,
2016 FOR
INDEFINITE PERIOD AND HAS REGULATED TERMS AND REGULATIONS FOR
INDIVIDUAL CONTRACTS FOR THE GROUP
    * THE SAID ANNEX APPLIES FOR DELIVERIES PERFORMED UNDER SAID
DEAL,
STARTING ON JULY 1

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM3cxTNka
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