The Polish Power Exchange (TGE) and the Polish Oil and Gas Company (PGNiG) have signed a cooperation agreement to develop a biomethane market in Poland.
Signed on 12 January, TGE and PGNiG intend to jointly prepare modern solutions supporting the creation and development of Poland’s biomethane industry.
Both PGNiG, a key player in the gas market, and TGE, a trading platform where trading in gas and certificates promoting the use of renewable energy sources (RES) are concentrated, will work towards transforming the energy market, leading to the increased significance of green technologies and an emerging market for alternative fuels such as biomethane or hydrogen.
Paweł Majewski, president of the PGNiG management board, said: “PGNiG has been an active member of the gas exchange market since its inception and continues to contribute to its development, as evidenced, among other things, by the record-high volume of natural gas trading on TGE in 2020.
“Now, we are about to enter a new chapter of cooperation, which will allow us to create modern market solutions in the field of biomethane trading. This green fuel offers considerable potential which will give us the opportunity to play an active part in the future energy transformation of the Polish economy, while at the same time pursuing our business objectives and ensuring Poland’s energy security.”
In the first stage of the cooperation, the firms plan to leverage the experience of the Exchange which currently maintains the Certificate of Origin Register as an element of a potential support scheme for biomethane based on certificates, as well as the Guarantees of Origin scheme, as a potential instrument for achieving the National Indicative Target.
“For over 20 years, TGE has been supporting all transformation processes on the energy market and actively contributing to its development by offering its participants comprehensive solutions and products,” said Piotr Zawistowski, president of TGE’s management board.
“The cooperation with PGNiG in creating a biomethane market is an opportunity for the Exchange to further develop the RES segment. Certainly, our registers have a key role to play in this project.”