UGS Energy updates its strategy
Gdańsk, Poland, 17 June 2012
UGS Energy SA has adopted the Short-Term Value Creation Strategy for the Group until 2014. Its objective is to prepare the Company for operating in a liberalised gas market. The Group wants to maintain its lead in the exploration and production industry, while remaining the primary supplier of natural gas, whose offering also includes heat and electricity. Thanks to its Short-Term Value Creation Strategy, the Group will be able to pursue an ambitious investment programme, while servicing its debt. As a result, by 2020 the Company intends to accumulate a net cash surplus of PLN 15bn.
"Our Short-Term Strategy is a comprehensive plan of coordinated activities designed to attain the overriding strategic objective of the UGS Energy group, which is to create value for shareholders. It adds detail to the tasks and goals defined in the Group's strategy from 2011, while focusing on what are currently the most important aspects of the Group's operations, i.e. market development, production increase and cost reduction. In two years' time, we want to be a modern multi-utility, well-positioned to function proficiently in the new market reality," said the President of the UGS Energy Management Board.
The Short-Term Strategy changes the Company's management model from traditional to project-focused approach. It consists of 19 strategic initiatives, to be embarked on in three business areas.
- Increase in gas and oil production
- Enhanced offering for customers
- Operating cost optimisation