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Economy
Lithuania has to be proactive in competition with Russian ports – PM
Lithuania has to be proactive in competing with Russian ports for cargoes, Prime Minister Saulius Skvernelis said on Tuesday morning. […]
Energy
EU aid for Klaipėda FSRU purchase to depend on Latvia, Estonia – EnergMin
Lithuania’s talks with the European Commission on EU funding for the acquisition of the Klaipėda liquefied natural gas ( LNG) terminal’s vessel will depend on whether Latvia and Estonia recognize it as a regional facility, Energy Minister Žygimantas Vaičiūnas said. […]
Economy
New CEO expects to turn Lithuanian Railways into transparent company
Mantas Bartuška, the new chief executive officer of Lietuvos Geležinkeliai (Lithuanian Railways, or LG), is confident that he will manage to turn the country’s largest state-owned enterprise, which has recently come on the radar screen of law-enforcement, into a transparent company. […]
Energy
Achemos Grupė’s oil terminal sues Klaipėdos Nafta for EUR 6 mln
Krovinių Terminalas (Cargo Terminal), an oil product terminal owned by Achemos Grupė, last week turned to court over a deal between Klaipėdos Nafta (Klaipėda Oil) and Orlen Lietuva that allegedly violates the Law on Competition and restricts fair competition in the Klaipėda port’s light petroleum product market, the daily Lietuvos Žinios reported on Tuesday. […]
Economy
Energy companies most profitable among the state-owned enterprises
The 2015 annual report on the Lithuanian state-owned enterprises (SOEs), which contains financial results of SOEs, was presented at the government meeting on 15 September, Turto bankas informed in the press release. […]
CORPORATE
Lithuanian national gas trading company nets €4m profits
Lithuania’s national gas trading company Litgas has made a profit of €4.9 million on revenues of €209 million in 2015. The company, which is a subsidiary of state-owned Lietuvos Energija (Lithuanian Energy) started to sell […]
CORPORATE
Profits of Lithuanian state-owned companies down 5.7%
Companies owned by the Lithuanian state have reported €216,3 million in net profits over 2015, a drop of 5.7% from 2014. The best results come from the oil company Klaipėdos Nafta, while profits of the […]
Energy
Lithuania wants to buy LNG ship at Klaipėda terminal to cut costs
Lithuania wants to purchase the Klaipėda LNG terminal’s floating storage and regasification unit (FSRU) from Norway’s Hoegh LNG before the expiry of the 10-year lease period in an effort to reduce the terminal’s costs and will seek support from the European Union for this purpose, Energy Minister Rokas Masiulis said on Tuesday. […]
Energy
Energy
Klaipėdos Nafta looks to secure EUR 300 million loan
Klaipėdos Nafta (Klaipėda Oil), Lithuania’s state-run company managing oil and liquefied natural gas (LNG) terminals, has issued a call for tenders to secure a loan of up to EUR 300 million. The money would be partly used to pay for the rent of the LNG storage vessel. […]
Energy
Water security zone marked out around Klaipėda LNG terminal
Energy company Klaipėdos Nafta, which manages Liuthuania’s Liquefied Natural Gas (LNG) terminal, has installed buoys in the Curonian Lagoon near floating storage and regasification unit (FSRU) Independence. The buoys mark a 125-metre water security zone around FSRU Independence. […]
Energy
Hoegh LNG refuses to sell LNG vessel to Lithuania ahead of time
Lithuania plans to purchase the Klaipėda LNG terminal’s floating storage and regasification unit (FSRU) in ten years, and not now, since the vessel’s owner, Norway’s Hoegh LNG, refuses to sell the ship before the term established in the contract. […]
Energy
Lithuanian company to help Colombia build LNG terminal
Klaipėdos Nafta AB, an operator of the Klaipėda Oil Terminal, has signed an agreement under which the Lithuanian company will help to build a liquefied natural gas (LNG) terminal in Colombia. This is the very first this kind of agreement in the Lithuanian energy sector. […]
Energy
Third commercial LNG shipment on its way to Lithuania
The third commercial shipment of liquefied natural gas (LNG) will be delivered to the Lithuanian LNG terminal, the first such facility in the Baltic countries, this week. […]
Uncategorized
Estonians want to use Klaipėda’s future LNG distribution station
Estonian company JetGas has expressed interest to use Lithuania’s future liquefied natural gas (LNG) distribution station which will be constructed in Klaipėda. […]
Economy
Transhipment of Lithuania’s Klaipėdos Nafta grows
During March 2015, Lithuania’s Klaipėdos Nafta reloaded 354,000 tons of petroleum products into its storage tanks of oil terminal and Subačius fuel base (SFB), i.e., by 15.5 percent more compared to March 2014, when 306,000 tons were reloaded. […]
Energy
Lithuania’s top court says LNG facility law compliant with Constitution
Lithuania’s Law on the Liquefied Natural Gas (LNG) Terminal, as amended, complies with the Constitution, the Constitutional Court ruled on Friday. […]
Energy
LNG distribution station to be built in Klaipėda
Klaipėda is getting ready for the construction of the Liquefied Natural Gas (LNG) distribution station. Energy company Klaipėdos Nafta as that together with the French company Sofregaz it is entering the stage of project preparation and environmental assessment. […]
Economy
LNG terminal brings EUR 5.4mn revenue to Klaipėdos Nafta in January
The Lithuanian company Klaipėdos Nafta in January reloaded 632,000 tons of oil products into its storage tanks of oil terminal and the Subačius fuel base, more by 59.2 percent compared to January 2014, when 397,000 tons were reloaded, the company said in a report. […]