Energy
Lithuania to have gas link with Poland in 2020-2024
Lithuanian-Polish gas link project should be implemented in 2020-2024, Prime Minister Algirdas Butkevičius says. […]
Energy
Energy
Lithuanian PM expects LNG terminal to be completed on schedule
Lithuanian Prime Minister Algirdas Butkevičius expects that the Klaipėda liquefied natural gas (LNG) terminal project will be completed on schedule and will ensure the country’s energy security, saying that builders are working on the construction site 24 hours a day. […]
Energy
LNG vessel to be protected on its way to Lithuania
The Independence, the floating storage and regasification unit (FSRU) built for Lithuania’s liquefied natural gas (LNG) terminal in Klaipėda, will be protected while on its way to Lithuania and should reach the terminal by November, says Prime Minister Algirdas Butkevičius, adding he cannot specify the precise date. […]
Energy
Lithuania’s prime minister assures LNG terminal will be completed on schedule
Lithuania’s new liquefied natural gas (LNG) terminal in Klaipėda will be completed on schedule in November, when a floating storage and regasification unit (FSRU) built for the facility is to come to the port, Prime Minister Algirdas Butkevičius said on Tuesday. […]
Energy
China geologists interested in Lithuanian shale resources
A meeting with petroleum geology research institutes from the People’s Republic of China (PRC), Sinopec Exploration and Production Research Institute and Wuxi Research Institute of Petroleum Geology, was held in the Lithuanian Geological Survey. […]
Opinion
Opinion: Breaking free from Gazprom is of political and economic benefit
Russian intervention in Ukraine has refocused the attention on the traditional military and security challenges, but the factors that made it possible for today’s Russian attempts to revise the European security architecture should not be forgotten. Primarily, this was the result of the processes in the energy sector that go forward only because of reasoned calls of a part of intellectuals for Europe to stop funding of Vladimir Putin’s regime. […]
Energy
Lithuanian Energy Institute calls for exploration of shale gas reserves
The Lithuanian Energy Institute (LEI) says that the country should explore its shale gas potential and possibilities of using it for energy production. […]
Energy
Energy study brings no clarity to whether Lithuania should develop nuclear project
A new study on the strategic development of the Lithuanian energy sector does not bring clarity, at least for now, on whether or not the country needs a nuclear power plant. […]
Energy
Former energy vice-minister: Deal with Statoil gives Lithuania a trump card in negotiations with Russia
Last week, Lithuania signed a historic contract of liquefied natural gas (LNG) supply with the Norwegian company Statoil. Even if the price of gas set by Statoil will be somewhat higher than the one Lithuania pays now, it is important that, for the first time in history, the country has an alternative to Russian gas, says Romas Švedas, former deputy minister of energy and lecturer at the International Relations and Political Science Institute of Vilnius University (VU TSPMI). […]
Energy
Analyst: Russia could only do more harm to Lithuania through cuts in gas supplies
Russia’s sanctions against imports of farm and food products were the trump card of the neighbouring country and it only could do more harm through restrictions on the sale of energy sources to the European Union’s (EU) countries, chief economist of Swedbank Lithuania has said, adding that in this way Moscow would also inflict significant harm on itself. […]
Energy
Poland and Lithuania apply for EU support to connect their gas transmission systems
On Tuesday, Poland‘s and Lithuania’s natural gas transmission systems operators GAZ-SYSTEM S.A. and AB Amber Grid submitted joint applications to the Innovation & Networks Executive Agency (INEA) for the co-financing of the project Gas Interconnection Poland-Lithuania (GIPL) from Connecting Europe Facility (CEF), Lithuania’s Ministry of Energy informs. […]
Energy
Lithuania’s gas security: Risks and opportunities
There is a long-held view that the Russian gas supply to Lithuania is unlikely to be cut-off because Lithuania serves as a gas transit state to the Russian territory of Kaliningrad. In other words, the same gas pipeline feeding Lithuania, also supplies the Russian enclave. According to this argument, Moscow would be hesitant to turn off the gas supply to Lithuania because it would result in an automatic cut in the gas supply to Kaliningrad. […]
Energy
Winter and Gazprom won’t wait: What the geopolitics of LNG will mean for the people of Ukraine and Europe
As the crisis in Ukraine is escalating with the prospect of Russian military intervention, there is every reason to believe that Vladimir Putin will use other weapons at his disposal. Thus European nations are increasingly – and justifiably – worried about the impending winter months when Russia could ratchet up the pressure on Europe, as it has done in the past, by imposing another gas halt with the consequent loss of life and negative economic impacts. […]
Energy
Electricity price in Lithuania stabilised in August
On 11-17 August, the average electricity price in Nord Pool Spot power market Lithuanian trading zone was LTL 0.196 (EUR 0.056) per kilowatt hour, i.e., around 20 percent lower than a week ago. […]
Uncategorized
Economy
Lithuanian electricity company becomes member of NASDAQ OMX Commodities
Lietuvos Energijos Gamyba, a company engaged in the production and wholesale trading of electricity, is pursuing its goal to actively contribute to the integration of Nordic and Baltic electricity markets. Lietuvos Energijos Gamyba is the first Lithuanian company that joined the derivatives exchange NASDAQ OMX Commodities, the company says in a statement. […]
Energy
Work on LitPol Link continues in full swing
On 7-8 August, Minister of Energy Jaroslav Neverovič inspected the work on electrical transformer substations in Alytus (Lithuania) and Elk (Poland), which are part of the LitPol Link power connection. The minister said that even though the schedule is intensive, the substation reconstruction is being carried out successfully. […]
Energy
Hot weather raised electricity price in Lithuania
In July, the average electricity price in Nord Pool Spot power market Lithuanian trading zone (NPS LT) was LTL 0.198 (EUR 0.057) per kilowatt-hour, which was 4.4 percent above what it had been in June (LTL 0.189 or EUR 0.054 per kWh). In July 2014, compared with July 2013, the price increased by 17 percent. […]
Energy
Norwegian Ambassador on the LNG terminal: Norway and Lithuania have reached new phase in energy cooperation
Norway is among the leading nations in the global energy industry and Lithuania’s strategic partner in the Klaipėda LNG Terminal project, the centrepiece of the country’s energy independence strategy. Norway’s Ambassador to Vilnius Leif Arne Ulland says it has not been an easy battle, but Lithuania is confidently moving forward. […]
Economy
Lithuania’s Litgrid secures EUR 50 million from NIB to fund LitPol Link
The Lithuanian electricity transmission system operator Litgrid and Nordic Investment Bank (NIB) signed an agreement on Wednesday on a 50-million-euro loan for a period of ten years, said the company in a statement. […]