International Internet Magazine. Baltic States news & analytics
Saturday, 04.07.2015, 20:02
Significant changes are bound to happen in Lithuania's energy market in 2016: new interconnections with Poland and Sweden will be launched, electricity generation quotas for combined heat and power plants will be cancelled and a more favourable to consumers gas supply security financing model should enter into force, reports LETA/ELTA.
Keyword tags: Energy, EU – Baltic States, Legislation, Lithuania
In May, compared with May 2014, the volume of retail trade increased by 4.9% in Latvia, which is the fifth best growth among the European Union member states for which data are available, according to latest information provided by Eurostat. Estonia was second, writes LETA.
Vice-President of the European Central Bank (ECB) Vitor Constancio who is attending a conference at the Bank of Lithuania says that the referendum in Greece will have a huge impact on potential agreement between Athens and its creditors, reports LETA/ELTA.
Estonia's biggest passenger shipping company AS Tallink Grupp informed the Tallinn stock exchange that in June 2015, it transported 882,635 passengers, which is almost a 2% decrease compared to June 2014, informs LETA.
On 29-30 June 2015, Lithuanian Energy Minister Rokas Masiulis as part of a Lithuanian delegation was visiting Croatia. Masiulis met with Croatian Economy Minister Ivan Vrdoljak and took part in a Lithuanian-Croatian energy security forum. Croatia currently is particularly concerned about enhancing its energy security as the country imports more than half of its energy resources, reported BC the Lithuania's Ministry of Energy.
In May 2015, producer prices in Latvia declined 0.1% from April, which was the smallest reduction in the EU, reports LETA, according to the latest report released by the EU statistical office Eurostat.
Fortum, a Finnish energy company focusing on the Nordic and Baltic countries, Poland, and Russia, is negotiating on the restructuring of the territorial generating company, TGC-1. The negotiations have not, however, come to conclusions, that would make it possible for Fortum to decide on its participation in the Fennovoima nuclear power project, reports LETA/ELTA. Referring to Fortum.
Starting from December 3rd 2015 EasyJet will launch double weekly flights on Milan-Tallinn route, Tallinn Airport announced BC.
The Estonian government decided at its meeting on July 2nd 2015 to allocate more than 183,000 euros from the reserves in order to support the establishment of the building of the European Union IT Agency in Tallinn, reports LETA, referring to the government communication unit.
Natural gas supply and trading company Litgas, part of Lithuania's state owned energy holding Lietuvos Energija, and Statoil, leading global energy company in oil and gas production, signed a memorandum of understanding (MoU) on July 2nd in Vilnius, Lithuania regarding establishment of a joint venture company in Lithuania to develop small scale LNG bunkering services, Litgas reports LETA/ELTA.
The Belgian producer of caulks, polyurethane foams and adhesives Soudal has acquired the Dobele construction chemicals producer Tenacham, according to a statement posted on the Belgian company's website, cites LETA.
The European Commission has renewed integration efforts in the most complicated financial sphere – insurance service. The new Insurance Distribution Directive (IDD), intends to improve the way insurance products are sold and bring real benefits to consumers and retail investors. The IDD’s text has been approved by the EU’s “legislative trio”: the Parliament, the Council and the Commission.
Minister of Foreign Affairs of Lithuania Linas Linkevicius underlined the importance of a focused and active diplomatic service during the Convention of Lithuanian Ambassadors, which began on 1 July 2015, reports BC the Ministry of Foreign Affairs.
It has been reported recently that vessel Romuva, owned by Lietuvos Juru Laivininkyste (Lithuanian Shipping Company), was prohibited from leaving Italian port due to debt. It transpired afterwards that two more ships of the company, Raguva and Voruta, suffered a similar fate, reports LETA/ELTA, referring to Klaipeda.
Prime Minister Algirdas Butkevicius says that Lithuania's GDP growth has not met projections because export still cannot recover from the embargo imposed by Russia, reports LETA/ELTA.