International Internet Magazine. Baltic States news & analytics
Sunday, 14.02.2016, 05:49
According to the Bank of Estonia (Eesti Pank), major layoffs in the oil industry will not result in a significant increase in the unemployment rate because layoffs being announced a long time before the actual occurrence will let the people being made redundant start looking for new jobs, informs LETA/BNS.
Keyword tags: Employment, Energy, Estonia, Labour-market, Markets and Companies
Latvijas Gaze natural gas utility and Dzintars cosmetics company are holding talks to reach an agreement on the cosmetics company's unpaid gas bills, LETA was told at Latvijas Gaze.
The Alexela Group as well as a group of investors, Trilini Energy OU, want to acquire the majority holding in Estonia's natural gas seller Eesti Gaas from the Finnish energy group Fortum, the daily Eesti Paevaleht reports, cites LETA/BNS.
Ventspils Nafta holding will reduce its share capital from EUR 146.3 million to EUR 1 million, informs LETA, according to the company's statement in Latvijas Vestnesis official newspaper.
Expansion of the Incukalns underground gas storage facility in Latvia and gas pipelines from Latvia to Lithuania and Estonia are on the European Commission's list of 14 priority projects aimed at protecting the EU against natural gas supply disruptions and reducing dependence on Russian gas, informs LETA/BNS.
Saeima today passed amendments to the Energy Law in the final reading to support liberalization of the gas market and rules on breaking up the joint-stock company Latvijas Gaze, reports LETA.
Cheaper Swedish electricity, supplied from Sweden as part of maximum capacity testing of NordBalt, a power interconnection between Lithuania and Sweden, has reached Lithuania’s electricity market on February 10th, informs LETA/BNS.
Decisions in energy issues in a rapidly changing world require speed and determination. The threat of climate change and the current uncertainty in the energy markets are clearest examples of the difficult challenges facing EU member states. Historic climate agreement reached in Paris at COP-21 meeting has begun a vital process towards low-carbon and sustainable world.
In the end of last week, the operator of the Lithuanian liquefied natural gas (LNG) terminal – Klaipėdos nafta AB – signed two new agreements on the use of terminal capacities with the largest gas market players: Achema and Lietuvos dujų tiekimas. The new agreements serve as a proof to the markets that the gas price offered by Norwegian gas company Statoil for 2016 was lower than the price offered by Russian gas company Gazprom, reports BC Birutė Jocaitė from the Energy Ministry.
Renewables' share of energy consumption in Lithuania in 2014 exceeded the European Union's average level, figures from the EU statistical office Eurostat showed on Wednesday, cites LETA/BNS.
Lithuania's fertilizer manufacturer Achema, the country's largest natural gas consumer that last year began to pay Klaipeda liquefied natural gas (LNG) terminal charges after having refused to do so for two years, continues to contest the legality of these charges, even though the burden for the company has eased by 7-8 million euros since the start of the year 2016, informs LETA.
The government today approved the Economics Ministry's regulations on supply and use of natural gas, which stipulate that companies in Latvia will be able to buy natural gas from foreign gas suppliers, informs LETA.
NordBalt, a power interconnection between Lithuania and Sweden, which was completed last November and currently operates in a trial mode, is being tested at the maximum capacity of 700 megawatts (MW) on Monday, Litgrid has said, cites LETA/BNS.
Latvijas Gaze natural gas utility has warned Latvia's Dzintars cosmetics company that its plant in Riga might be cut from gas supply soon, LETA was told at the gas company.
Terminals in the Port of Ventspils handled a total of 1.84 million tons of cargo in January 2016 or by 29% less than in January 2015 but it is the largest monthly amount that the port has reloaded since May 2015.