The gas rally is not scary for KGHM. The company reassures the market

KGHM has secured gas supplies for subsequent periods at favorable prices – Artur Newecki, spokesman for the copper concern, told PAP Biznes. The company assures that there is no risk of production reduction due to the dynamic increase in gas prices.

KGHM Polska Miedź is one of the largest industrial consumers of natural gas in Poland, with annual demand of nearly 2.5 TWh. Gas fuel is used to produce electricity, heat and cold for the company's needs in its own generation sources.

“The purchase of gas from KGHM is contractually secured and deliveries of the ordered quantities proceed without disruption. KGHM actively manages risks, including the risk of changes in energy and gas prices. As a result of a responsible approach, we have a large part of the consumption planned for subsequent periods, secured at favorable prices. Thanks to this, we focus on the production process and cost optimization,” the KGHM spokesman told PAP Biznes.

“There is no risk of production reduction due to the dynamic increase in gas prices,” added Artur Newecki. (PAP Business)

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