International Internet Magazine. Baltic States news & analyticsFriday, 12.03.2010, 05:29
Rigas Siltums operated with LVL 5 mln in profit in October-September
11.03.2010During the last year's financial period, from October of 2008 to September of 2009, joint-stock heat supply company Rigas Siltums operated with LVL 4.99 million in profit, which is LVL 1.29 million more than in the previous financial year, LETA was informed by the company's spokeswoman Linda Rence.
Keyword tags: Energy, Latvia
Funding agreement for TEC-2 development in Riga signed
11.03.2010Energy company Latvenergo and the European Bank for Reconstruction and Development (EBRD) have signed a credit agreement on funding for the second stage of the Riga TEC-2 heating and power station reconstruction project.
EU Green Paper on Forest Protection
10.03.2010A specific instrument exists in the EU decision-making procedures, which is called “Green Paper”. The purpose of such papers is to launch a public debate on a future legislative proposal that can eventually evolve into an EU law, as either a directive, regulation or decision. In the beginning of March, the Commission launched a public debate on forest issues, including protection and management.
Lithuania downplays concern over Russian refinery
10.03.2010Lithuanian President Dalia Grybauskaite on Tuesday downplayed suggestions that Lithuania opposed the inclusion of a Russian investor in the ex-Soviet Baltic state's only oil refinery. "Politically it is important, it's of symbolic importance, but economically this refinery is not strategic," Grybauskaite told AFP in an interview.
Sekmokas in Paris: nuclear renaissance is taking place in the world
09.03.2010Minister of Energy Arvydas Sekmokas, who is taking part in the International Conference on Nuclear Energy in Paris on March 8-9, is convinced that nuclear renaissaince is taking place in the world.
Nord Stream uncovers shipwrecks in Baltic Sea
A dozen previously unknown shipwrecks, some of them believed to be up to 1,000 years old, were discovered in the Baltic Sea during a probe of the sea bed to prepare for the installation of a large gas pipeline, LETA/Swedish Wire reported, referring to the Swedish National Heritage Board.
IAE Head: money allocated to Ignalina closure spent, but nothing done
One billion euros was allocated to the closure of the Ignalina Nuclear Power Plant, however, nothing was done. The new IAE Head Osvaldas Ciuksys will only be able to show the EU auditors the poured concrete. Osvaldas Ciuksys will start his works from ultimatum to German company Nukem Technologies, writes Lietuvos Rytas.
Latvenergo subsidiary companies make redundancy payments of more than ten monthly salaries
Latvenergo’s subsidiary company Augstsprieguma tikls and Sadales tikls made redundancy compensation payments or severance pay of more than ten monthly salaries. This is according to salary details on the two companies published by the self-titled "Fourth Awakening People's Army" (4ATA) activist group this morning.
CEO of Narva Power Plants leaves office at end-March
CEO of Eesti Energia’s Narva Power Plants Ilmar Petersen will leave office after his term of contract will end at the end of March 2010, writes LETA/Postimees Online. The new CEO of the power plants Tõnu Aas will take office from April 1.
Perspectives for the biodiversity protection in the EU
The European Commission opened the 2010 International Year of Biodiversity with a paper setting out future options for the EU’s biodiversity policy. Despite past efforts, species extinctions are continuing at alarming rates, and a new vision is required to halt these losses. The Communication sets out a vision and outlines four possible targets to reach it, with different levels of ambition.
If state taxation policy remains unchanged, Grandeg could move production outside Latvia
The Latvian biomass heating system manufacturer Grandeg will either expand its operations in Latvia, or transfer to another country altogether, depending on the course chosen for the country's taxation policy, the business portal Nozare.lv was told by Grandeg’s owner, Andris Lubins.
Fitch: Orlen downgrade threat recedes as refiner cuts debt
PKN Orlen, Poland's largest oil refiner and owner of Lithuania's oil company Mazeikiu Nafta, is less likely to have its credit rating cut in the next 12 months, Fitch Ratings said, after cut debt in the fourth quarter, meeting requirements set by banks in loan agreements.
PM of Lithuania: Gazprom claim is entirely law-based
In Prime Minister Andrius Kubilius' opinion, the claim over the alleged damages of the Russian gas concern Gazprom is entirely a legal dispute between Kauno Energija and the Kaunas heat and power plant (KTE) owned by Gazprom. In this dispute the state is the third party. At the same time, the prime minister noted that the contract between Kauno Energija and the KTE did not mean that the state had no right to regulate energy and heating prices or pass relevant laws.
4ATA publishes Latvenergo salary details; the highest – LVL 12,171
The self-titled "Fourth Awakening People's Army" (4ATA) activist group today published salary details of Latvenergo employees. 4ATA representative Neo, writing on the Twitter social network, commented that salaries in the company had been reduced in accordance with government's austerity measures; however, he invited readers to calculate how many millions could have been saved, had salaries been optimized earlier.
Gazprom launches an investment dispute with Lithuania
After Lithuania started applying methodology for estimating heating prices to Kaunas Cogeneration power plant (KET), Russian gas concern Gazprom launched an investment dispute. Prime Minister Andrius Kubilius was reported that price regulation caused losses of hundreds of millions. Gazprom proposes Lithuanian Government to solve the dispute peacefully by paying the group for the damages suffered.
Closer cooperation model for the Baltics and the EU 
