International Internet Magazine. Baltic States news & analytics
Saturday, 28.02.2015, 15:56
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Lithuania's natural gas supply and trading company Litgas was authoriased to trade in the Estonian gas market, the company reports BC.
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.
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.
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.