International Internet Magazine. Baltic States news & analytics
Tuesday, 23.09.2014, 23:20
U.S. gas industry: Latvia has very good possibilities in effectively utilizing its gas storage potential23.09.2014
Starting his working visit to the United States on Monday, Latvian President Andris Berzins visited Houston (Texas), where he met with the management of the leading U.S. gas and transportation companies in order to acquaint them with Latvia's energy sector and opportunities for them to invest, taking into account not only Latvia's national, but also regional interests in reducing energy supply risks and attracting strong investors from alternative regions, LETA was informed by the Presidential Press Service.
Keyword tags: Energy, EU – Baltic States, Gas, Investments, Latvia, Legislation, Technology, USA
President Andris Berzins continues his U.S. visit today, when he will also meet with U.S. experts to conceptually discuss American companies' interest in acquiring Latvijas gaze shares, reports LETA, referring to the newspaper Neatkariga.
Half-year net profit of JSC Ventspils Nafta and its subsidiaries (the Group) in 2014 reached 4.35 million euro. Revenue of the Group is made of income from the shipping business – 34.5 million euro and income from transshipment, storage and transportation of petroleum products – 54.5 million euro, informed BC communication consultant at JSC Ventspils Nafta Elina Dobulane.
The Latvian Ambassador and Permanent Representative to the UN, OSCE and other International Organizations in Vienna, Bahtijors Hasans, was elected as Vice-President of the 58th General Conference of the International Atomic Energy Agency (IAEA), informs BC Latvia MFA.
Lithuanian President Dalia Grybauskaite has appointed a new energy minister, Rokas Masiulis, reports LETA/ELTA.
In the first half-year of 2014 JSC “Latvian Shipping Company” and its subsidiaries (hereinafter – LSC Group) continued to improve their financial indicators – in 2013 in the same period the Group suffered a loss of 26.60 million USD, but this year – 8.32 million USD. The total income from the fleet in the first half of 2014 was 47.14 million USD, informed BC the company’s press service.
The results of a study conducted by BiotaP OÜ provide hope that in the future, biogenic methane gas could be produced from argillite that is found in Estonia, LETA/Delfi Ärileht reports.
Electricity price in Nord Pool Spot power market Lithuanian trading zone in August 2014 was LTL 0.191 (EUR 0.055) per kilowatt hour. Lithuania imported 64% of electricity, reports LETA/ELTA.
The European Parliament (EP) welcomes the ratification of the Association Agreement with Ukraine and steps being taken to restore peace in Ukraine, at the same time condemning the Russian Federation for waging an undeclared "hybrid war" against Ukraine, urging the European Union member states to cancel planned agreements with Russia in the energy sector and to support farmers affected by Russia's food embargo, as Marta Ribele, acting head of the EP Information Office in Latvia, informed LETA.
On 18 September in Vilnius, Minister of Foreign Affairs of Lithuania Linas Linkevicius and new Ambassador of Spain to Lithuania Emilio Fernandez-Castano y Diaz-Caneja discussed partnership within international organisations, economic cooperation, and issues relating to the EU internal energy market, reported BC the Ministry of Foreign Affairs.
Blind stubbornness of the authorities has gone over the top as in the light of the current geopolitical crisis the Construction Inspectorate is demanding to destroy a newly built biofuel plant in Vilnius when Lithuania is facing an energy blockade from Russia and the heating season is about to begin, reports LETA/ELTA, referring to Lietuvos rytas.
Saeima passed amendments to the Electricity Market Law in the final reading today, the amendments stipulate mechanisms to compensate low-income earners, needy residents, and large families for electricity price growth, reports LETA.
Estonian chemical industry Viru Keemia Grupp (VKG) successfully launched its Petroter II plant, which is already running at full capacity for two weeks, LETA/Postimees Online reports.
Natural gas supply and trade company Litgas signed an agreement with bank Swedbank on Wednesday over a LTL 287.73 million (EUR 83.3 million) credit line, reports LETA/ELTA.
Estonian state-owned foundation Environmental Investments Centre (EIC) supports from European Union funds the necessary preliminary studies for reorganising the Paldiski nuclear object with EUR 2,116,000, LETA/Public Broadcasting reports.