International Internet Magazine. Baltic States news & analytics
Thursday, 03.09.2015, 00:46
Data of the Central Statistical Bureau of Latvia show that in 2014 consumption of renewable energy sources (RES) in Latvia amounted to 68 petajoules (PJ). Affected by increase in the production of fuelwood, RES consumption has grown by 1.2% as compared to 2013. Compared to 2004, RES consumption in Latvia has increased by 12%.
Keyword tags: Analytics, Energy, Latvia, Markets and Companies
Latvian Energy Efficiency Association (LATEA) and the Representative Office of European Commision in Latvia has agreed for joint activities to promote the awareness of EU Energy Union in the Baltics. LATEA has received a support from European Commission to develop and present its concept for Baltic Energy Alliance.
Estonia's state-owned energy giant Eesti Energia made on September 1st the owners of its bonds that have repurchase deadlines in 2018 and 2020 a repurchase bid and plans to finance the transaction with a new long-term bond issue, the company announced LETA.
The Gas Interconnection Poland-Lithuania (GIPL) project has entered a new stage of works. On 21 August 2015, the Environmental Protection Agency under the Ministry of the Environment decided to give permission to perform planned economic activities in connection to the construction of GIPL in the territory of the Republic of Lithuania, informs LETA/ELTA.
Pursuant to legislative requirements of the Republic of Lithuania, natural gas transmission system operator AB Amber Grid announced its pre-audited operating results for the first six months of 2015, AB Amber Grid reports LETA/ELTA.
State company Klaipedos Nafta net profit for the 6 months of 2015 amounts to EUR 9,458 thousand and is higher by 157.7% compared to the same period of 2014 – EUR 3,670 thousand, informs LETA/ELTA.
The results of Lietuvos Energijos Gamyba and Lietuvos Energijos Gamyba group of companies for the period from January to June 2015 have been announced, the Company. The sales income of the Lietuvos Energijos Gamyba, national electricity generation company, for the period from January to June 2015 amounted to EUR 98.03 million and was 6.2% higher than that in January-June 2014, reports LETA/ELTA.
The Norwegian company CSUB (former Sorkomp), which works with oil and gas technologies, is launching a production division in Klaipeda. In the short run, CSUB LT plans to create 50 new jobs for engineers, welders, and other specialists. The company is also considering expansion in Lithuania, reports BC press service of Invest Lithuania.
Profit of Latvenergo Group increased by 46% in the first half-year 2015, whereas turnover fell 13%, according to the group's unaudited results for the first six months of 2015, informs LETA.
In Half 1 of 2015, AB Lietuvos Dujos (Lithuanian Gas), owned by the state-owned energy group Lietuvos Energija, increased its sales revenue by 5% to EUR 29.9 million (in 2014 – EUR 28.5 million), the energy company said, cites LETA/ELTA.
On 27 August 2015, Minister of Foreign Affairs of Lithuania Linas Linkevicius began his official visit to Indonesia. In Indonesia's capital city Jakarta, Linkevicius met with Indonesian Foreign Minister Retno Marsudi to discuss strengthening relations between Lithuania and Indonesia, international issues and opportunities for Lithuanian entrepreneurs to work in the Indonesian market, Lithuania's MFA reports BC.
In the first half of 2015, the Litgrid Group's profit before tax was EUR 2.8 million compared to EUR 2.7 million losses in the corresponding period of 2014. The results were mainly determined by 26% decrease in costs, Lithuanian electricity transmission system operator Litgrid said in a statement, cites LETA/ELTA.
Joint-stock shipping company Latvijas Kugnieciba (Latvian Shipping Company) and its subsidiaries (LSC Group) posted USD 45.81 million in total revenue in the first half of the year, which was by 3.3% less when compared to the same period last year, reports LETA, according to the company's financial report presented to the NASDAQ OMX Riga stock exchange.
Moody’s credit rating on Eesti Energia remained unchanged, at the level Baa2, with the stable rating outlook, reports the enterprise in a press release.
Joint-stock oil company Ventspils nafta and its subsidiaries operated with EUR 21.22 million in profit in the first half of the year 2015, reports LETA, according to the company's financial report submitted to the Nasdaq Riga Stock Exchange, cites LETA.