Prague - Jan Fischer, a former prime minister and unsuccessful candidate from the January 2013 presidential election, has been hired by CE Group, a Czech energy company. Fischer will be in charge of the group's giant energy projects, such as the 150 kilometer Mozart gas pipeline project to connect southern Bohemia with Austria's Linz.
At first sight it seems that Fischer is following the steps of former German Chancellor Gerhard Schroeder. After Schroeder, a strong proponent of the Nord Stream gas pipeline, stepped down in 2005, he was put in charge of the pipeline project by Russia's state-run gas giant Gazprom.
But a closer look reveals that this comparison is totally inaccurate. Most importantly, CE Group is hardly a Czech Gazprom. The little-known energy group, whose most important asset is Ceska Energie, has announced a number of mega-investments in the Czech energy sector over the past years, but few experts believe they will ever be completed. Moreover, as a graduate mathematician, former Czech Statistical Office head and former caretaker prime minister, Jan Fischer has little knowledge of the Czech energy sector.
Rather, it appears that the Ceska Energie owner, Czech-Canadian national Ladislav Drab, decided to hire Fischer to boost his company's publicity.
Ceska Energie is a small player in the Czech gas market. Its revenue was little over one billion korunas (EUR 39 million) in 2011. According to Eduard Palka, a minority shareholder, the company's revenue in 2012 was CZK 1.2 billion.
In 2010, Ceska Energie signed a contract with the state-run Diamo company for the construction of a giant CZK 6 billion gas storage facility in Rozna. But the works have not started yet, and the company has not specified how it is planning to finance the project. Palka said that his company is currently looking for a strategic investor.
The company has also proposed to build a 150 kilometer gas pipeline, called Mozart, connecting southern Bohemia with Austria's Linz. Again, Ceska Energie is currently looking for strategic partners.
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In the Czech energy sector, Ladislav Drab and his Ceska Energie are considered a mystery. Managers from other energy companies do not believe in Ceska Energie's multi-billion projects, and do not think the company is able to finance these ventures.
"Mr Drab is an expert in public relations and he likes to promote his plans," said a RWE Transgas manager. This is a common view that sheds a lot of light on Drab's cooperation with Fischer. One month ago, Ladislav Drab donated CZK 2.9 million to Jan Fischer, allowing him to repay part of his debt from the unsuccessful presidential campaign.
In sum, it appears that Ceska Energie has not hired Fischer as a strategic manager, but rather as a public relations mascot.
Before the unsuccessful presidential candidacy, Fischer served as vice-president of the European Bank for Reconstruction and Development with a monthly salary of approximately EUR 23,000.
