Energy

International Internet Magazine. Baltic States news & analytics Saturday, 28.02.2015, 15:56

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LITGAS establishes ties with US Delfin LNG

LITGAS establishes ties with US Delfin LNG

27.02.2015

Natural gas supply and trading company LITGAS has established ties with the United States companies. In Houston LITGAS signed a memorandum of understanding with Delfin LNG LLC, which will implement the first offshore floating liquefaction project in the US, informs LETA/ELTA.

Keyword tags: Energy, Gas, Legislation, Lithuania, USA



Eesti Energia revenues fell in 2014

Eesti Energia revenues fell in 2014

27.02.2015

Estonia's state-owned energy giant Eesti Energia announced on Friday that its sales revenues for the financial year 2014 amounted to 880 million euros, a fall by 8.9%, while EBITDA grew 0.6% to 312 million euros and net profit fell by 0.1% to 159 million euros, informs LETA.

New EU energy and climate strategy: fifth basic freedom

New EU energy and climate strategy: fifth basic freedom

26.02.2015

EU’s common energy market is the target of the new Commission’s strategy towards “energy union”. It means, among other things free flow of energy across borders, increased energy efficiency and transition to a low-carbon way of development. Action plan commitments suggest ambitious goals in the EU energy and climate policy.


Latvian Shipping Company registers a loss of 30.98 mln USD in 2014

Latvian Shipping Company registers a loss of 30.98 mln USD in 2014

26.02.2015

The unaudited financial result of Latvian Shipping Company and its subsidiaries (LSC Group) for the twelve months of 2014 amounted to a loss of 30.98 million USD predominantly as a consequence of vessel impairments in the amount of 55.25 million USD, informed BC communication Consultant at JSC Latvian Shipping Company Elina Dobulane.

Lithuania ready to buy LNG from US

Lithuania ready to buy LNG from US

26.02.2015

At a meeting with the US Secretary of Energy Ernest Moniz held on 24 February in Washington, Lithuanian Minister of Energy Rokas Masiulis confirmed Lithuania's readiness to purchase liquefied natural gas (LNG) from the USA as soon as US companies start exporting it, reported BC Lithuania's Ministry of Energy.

26.02.2015

Hoagland in Riga: U.S. and EU should continue joint efforts in providing support for Central Asian countries

Latvian Foreign Ministry’s Political Director, Eduards Stiprais, met with Richard E. Hoagland, the Principal Deputy Assistant Secretary of State for South and Central Asian Affairs at the U.S. Department of State, reports LETA.

26.02.2015

Hefty profit for Latvijas Gaze in 2014

The Latvian gas company JS Latvijas Gaze is looking at EUR 30.07 million in profit, which is 1.9% more than in 2013. This according to the company's non-audited 12-month financial review, handed in to "NASDAQ OMX Riga", cites LETA.

26.02.2015

Ventspils nafta posts slight decrease in turnover, fivefold fall in losses in 2014

Ventspils nafta (Ventspils Oil) posted EUR 161.87 million in turnover in 2014, which is almost 3% less than in 2013 when the company's turnover totaled EUR 166.73 million. The company's losses decreased from EUR 61.21 million in 2013 to EUR 13.83 million last year, as Ventspils nafta representatives announced LETA yesterday.

25.02.2015

Commissioner Andriukaitis welcomes EU's strategy for Energy Union

On 25 February 2015, the European Commission (EC) has announced the Energy Union's strategy which seeks to reduce the dependence of member-states on single suppliers and fully relying on their neighbours. According to Lithuanian Commissioner Vytenis Povilas Andriukaitis, the Baltic region plays a very important role in the strategy as the plan provides for synchronization of the Baltic and EU power systems, informs LETA/ELTA.

25.02.2015

Estonian Harju Elekter increases profits in 2014

Estonian electrical fittings manufacturer Harju Elekter informed the Tallinn Stock Exchange that its profit for the year 2014 increased by 89% while the profit for the fourth quarter fell by 15.1%, informs LETA.

25.02.2015

LNG unit Independence already cost Lithuania EUR 8.24 million in 2015

Liquefied natural gas (LNG) floating storage regasification unit Independence already cost Lithuania EUR 8.24 million in 2015. Everyday an amount of EUR 150,000 accumulates, informs LETA/ELTA, referring to Vakaro zinios.

25.02.2015

Litgas obtains permission to trade in Estonian gas market

Lithuania's natural gas supply and trading company Litgas was authoriased to trade in the Estonian gas market, the company reports BC.

25.02.2015

2% more fuel sold in Latvia in 2014, retail volume rises 7%

A total of 1.233 million tons of oil products (fuel) was sold in Latvia in 2014, which is 19,710 tons or 2% more than in 2013, reports LETA, according to the State Revenue Service's data.

25.02.2015

Latvia: close regional cooperation is of enormous importance in addressing present-day challenges in Europe

Close regional cooperation is of enormous importance in dealing with present-day challenges in Europe, said Zanda Kalnina-Lukasevica, the Latvian Foreign Ministry’s Parliamentary State Secretary for EU Affairs, in her presentation at the informal meeting of Foreign Ministers of the South Eastern European Cooperation Process (SEECP) in Tirana, Albania, on 24 February, reports BC the Latvian MFA.

24.02.2015

Orlen Lietuva: reduction of authorised capital will not affect solvency

Petroleum company Orlen Lietuva responded to concerns expressed publicly by Lithuanian Railways (Lietuvos Gelezinkeliai) over the company's finances. Orlen Lietuva said that the reduction of its authorised capital was not related to payment to shareholders but was used to cover losses, thus it will not affect solvency, informs LETA/ELTA.

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