EGESA ENERGY GROUP Ltd. was established on July 1, 2016 and opened as a newly registered company in Cyprus. It’s predecessor, EGESA GRUPA ENERGETYCZNA S.A., a natural gas originating/supplying company was established in Poland in end of 2006. Due to strict regulatory and licensing rules in Poland, EGESA started its business operations only in 2010 with natural gas origination and supply to industrial customers in Poland. For the years 2011-2013, EGESA has been the second natural gas supplier to Poland, gaining up to 3% of the total natural gas market. EGESA has been the first private company in Poland’s gas market development, which had supplied the largest natural gas off-takers, like refineries and chemical plants, in Poland.
Due to regulatory and political changes in Poland, in the middle of 2014, EGESA started to decline its presence in natural gas wholesale business in Poland. For the remaining months of 2014 and 2015, EGESA has been searching for new opportunities in the oil and gas sector in various regions.
In the end of 2015, EGESA found a new business opportunity in origination and supply of refined oil products that are sourced from small/medium size refineries. The physical purchases of products such as naphtha, fuel oil, gas oils, and distillates of gas condensate started in end of March 2016.
In June 2016, the shareholders of EGESA decided to move the business into a newly established company EGESA ENERGY GROUP Ltd, with its main offices in Cyprus.