The Polish company PGNiG and the State Property Fund of Ukraine (SPF) have signed a confidentiality agreement as part of the company's future participation in the privatization of Ukrainian energy facilities.

The agreement was signed by the head of the State Property Fund of Ukraine, Dmytro Sennychenko, and head of the board of PGNiG Jerzy Kwieciński in the presence of the presidents of Ukraine and Poland Volodymyr Zelensky and Andrzej Duda on October 12, according to the company's website.

"The possible participation of PGNiG in the privatization of the energy sector in Ukraine is an opportunity to strengthen cooperation between our countries and together build energy security in this part of Europe. I am convinced that thanks to our experience and competence, we could become a valuable partner for the Ukrainian side," Kwieciński said.

According to a source on the electricity market, the Polish side is interested in privatization of combined heat and power plants and regional energy companies.

PGNiG is the largest oil and gas company in Poland, engaged in the development of gas and oil fields, production, storage and transportation of energy resources, as well as the construction and development of an oil and gas transport network, export and import of gas.