KN Energies Joins New Baltic Regional Energy Initiative

(MENAFN- GlobeNewsWire - Nasdaq) International energy terminal operator KN Energies has joined the Baltic Energy Initiative initiated by ORLEN, bringing together 14 energy companies and organisations from nine Northern and Central European countries. The new partnership will pool the region's energy-sector expertise and capabilities to develop joint projects aimed at strengthening energy security, infrastructure resilience and the competitiveness of the Baltic Sea region.

The Baltic Energy Initiative will serve as a platform for pooling expertise, sharing experience and working together to develop projects with an international outreach. The priorities include offshore wind, closer integration of the LNG and bioLNG markets, the creation of a regional hydrogen market, carbon transport and storage, and the development of small modular reactors. The partners will also cooperate in seekingfunding from European Union programmes and other international sources.

The agreement has been signed by 14 organisations from nine countries: Poland, Finland, Sweden, Denmark, Germany, Lithuania, Latvia, Estonia and Norway. Alongside ORLEN and KN Energies, the signatories are Eesti Energia, Enefit, Fortum, DNV Energy Systems, Topsoe, Siemens Energy, Adven, Steady Energy, P2X Solutions, Latvenergo, Gasgrid Finland and Vestas.

The Baltic Energy Initiative is also intended to give the region's energy sector a stronger voice in discussions with European institutions by providing a platform for developing common positions and recommendations on regulatory matters, investment and support mechanisms for strategic projects. Speaking with a common voice will help the partners communicate their shared needs more effectively and ultimately unlock more of the Baltic Sea region's energy potential.

Protecting energy infrastructure will be another key focus of the newly established partnership. The participants will share experience in critical infrastructure protection, cyber security, emergency preparedness, and responses to physical and hybrid threats. They will jointly assess projects that could make energy infrastructure more resilient and explore potential sources of financing.

Tomas Tumėnas, Chief Financial Officer, +370 46 391772

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