Posted on 11/06/2006 11:27:53 AM PST by lizol
Kaczynski says Poles still determined to complete Lithuanian refinery deal
The Associated Press Published: November 6, 2006
VILNIUS, Lithuania: Polish President Lech Kaczynski said Monday that Poland's PKN Orlen would not back out of an agreement to buy Lithuania's Mazeikiu Nafta oil refinery despite financial setbacks.
"We are determined to complete this deal, which is very important for both Poland and Lithuania, by the end of this year," Kaczynski told reporters during a visit to Lithuania.
The statement, made during Kaczynski's visit as part of the annual summit of Polish and Baltic presidents, was applauded by Lithuania's leadership, which has been eager to find a new strategic investor for the refinery.
"This deal is very important not only for Lithuania and Poland but also for the entire region," Lithuanian Prime Minister Gediminas Kirkilas said after meeting Kaczynski.
A fire at the refinery and a rupturing of the main crude oil supply pipeline have fueled speculation that PKN Orlen, which in May agreed to pay US$2.3 billion for a 83 percent stake in Mazeikiu Nafta, might renege on the deal.
The Oct. 12 fire did some US$48.5 million in damages, while the pipeline leak has forced the refinery to import crude via tanker at its Baltic Sea terminal, which a more expensive.
PKN Orlen President Igor Chalupec, who was also in Vilnius, reiterated his company's determination to see the purchase finalized.
"We expect to receive the European Commission permission to buy Mazeikiu Nafta this week. Our company wants to strike the deal as soon as possible. We hope to do it this year," he said.
Kaczynski also held talks with the three Baltic presidents — Lithuania's Valdas Adamkus, Latvia's Vaira Vike-Freiberga and Estonia's President Toomas Hendrik — to discuss regional, European and NATO issues.
(Excerpt) Read more at iht.com ...
He's in the news an awful lot lately... one minute refinery deals, the next, an EU army...
Jeez, what won't he do to get the spotlight off of his pole-smoking homo brother!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.