Posts tagged as Baltic

Recent changes shake up Lithuania’s gas market

Friday, March 15, 2019

After the obligation for regulated energy producers to buy gas from Litgas was lifted early this year, around 3 TWh of gas will enter the free market over the next year, increasing the gas market and exchange’s liquidity, Lithuanian natural gas transmission system operator Amber Grid says LETA. Giedre Kurme, CEO at GET Baltic, the Baltic natural gas exchange, says such changes have led to positive results. “The number of active exchange participants…

Russia Launches Plant to Reduce Kaliningrad’s Reliance on EU Grid

By Anastasia Lyrchikova on Saturday, March 9, 2019

Russia launched a new power plant on Wednesday to help make its Kaliningrad exclave in Europe self-reliant, as its European Union neighbors seek to unplug their power grids from Russia. Kaliningrad has no border with mainland Russia and has relied on its neighbor Lithuania, which in turn imports power from mainland Russia. But Lithuania, along with fellow European Union member states in the Baltic, Estonia and Latvia, plans to unplug…

Russia defense chief calls Baltic buildup a response to NATO

Thursday, February 28, 2019

Russia will add new tank and missile defense units to its Baltic fleet this year along with more modern weaponry for forces positioned in the vicinity of NATO turf, the country’s defense minister said. Defense Minister Sergei Shoigu told Russian state media on Wednesday the moves were a response to NATO’s growing presence in and around the Baltics. “We are forced to provide an adequate response, carrying out strategic containment…

EU approves EUR 323 million for 1st stage of Baltic power grids’ synchronization

Friday, January 25, 2019

The European Union is allocating EUR 323 million for the first stage of the Baltic power grids’ synchronization with the continental European system, covering around 75 percent of the total estimated cost of EUR 432.5 million, the European Commission announced. The EUR 323 million funding, which is the amount sought by the three countries, will be provided under the Connecting Europe Facility (CEF). Some EUR 125 million will go to…

Synchronization could cost Lithuanian consumers no more than NordBalt – minister

Thursday, January 10, 2019

Energy Minister Zygimantas Vaiciunas expects that the Baltic power grids’ synchronization with the continental European system will not cost Lithuanian consumers more than the NordBalt power link with Sweden, saying efforts are being made to secure the highest possible EU funding for the project, citing LETA/BNS. “We are speaking about (an additional) 0.2 euro cents (to the electricity price),” he added. The European Commission is expected to announce in early…

Baltic PMs agree on one time zone after adjusting of clocks ends

Tuesday, December 18, 2018

The Baltic prime ministers agreed in Vilnius on Monday on preserving one time zone after the European Union ends the long-standing procedure of changing the clocks, Lithuanian Prime Minister Saulius Skvernelis said. “Together with the colleagues, we agreed to preserve one time zone among the Baltic states in the future as well,” he told journalists after the meeting. The prime ministers, however, did not disclose which time, summer or winter, could be…

Ukrainian media: Baltics offered clearest reaction to Azov attack

Monday, December 3, 2018

The Baltic countries were the ones to come up with the fastest and clearest statements in support of Ukraine after the attack by Russia in the Azov Sea, a Ukrainian online publication said. “The Baltic states were the most sincere and outspoken supporters of Ukraine, calling things their right names regardless of whether truth might insult the Russians,” the news website eurointegration.com.ua said. “And it is not the least surprising…

Baltic, Nordic countries to increase energy-related research cooperation

Monday, October 1, 2018

The Baltic countries and the Nordic Council of Ministers are to start research cooperation in the field of energy, while the budget of the four-year project is 2.4 million euros. The Nordic-Baltic Energy Conference that took place in the Hilton Hotel in Tallinn on Thursday and Friday ended with Estonian Minister of Economic Affairs and Infrastructure Kadri Simson and CEO of Nordic Energy Research Hans Jorgen Koch signing the new…

Browder: British authorities took no action when told about Baltic banks

Saturday, September 22, 2018

British-registered shell companies routinely used Baltic banks to launder millions of dollars, American-born financier Bill Browder told Bloomberg a day after the UK’s role in Danske Bank’s Estonian money laundering scandal was revealed. Browder, the CEO of investment fund Hermitage Capital Management and former employer of Russian lawyer Sergei Magnitsky, made the claim on Friday when the UK’s National Crime Agency (NCA) said it would look into the role of…

Baltic prime ministers to meet with Netanyahu in Vilnius

Friday, August 24, 2018

Prime Minister Jüri Ratas (Centre), Latvian Prime Minister Māris Kučinskis and Lithuanian Prime Minister Saulius Skvernelis will meet with Israeli Prime Minister Benjamin Netanyahu in Vilnius on Friday. The four prime ministers will discuss Israeli-EU relations, the security situation in the Middle East and the Baltic Sea region, the fight against terrorism, and cooperation in the field of cybersecurity, according to a government press release. Over a working lunch, the…