EconomyThe Lithuanian managers of OP Corporate Bank (former Pohjola Bank), one of Finland's largest banks, say that they have big growth ambitions and know at least two ways of how to achieve this. Lithuania's new energy strategy guidelines don't envisage synchronization with Scandinavia2016-05-12, 18:51Guidelines for Lithuania's new national energy strategy until 2050, unveiled on May 12th, provide for connecting Lithuania's electricity grid with the Continental European system for synchronous operation via Poland, but do not envisage synchronization with Scandinavia as an option. Statistics Lithuania informs that in April 2016, against March, prices for the total industrial production sold increased by 1.5%, refined petroleum products excluded – decreased by 0.5%. The Lithuanian seaport of Klaipeda handled 13.29 million tons of cargo in January through April 2016, up 9.1% from 12.181 million tons a year earlier. Butinge crude terminal, which is owned by Orlen Lietuva, the Lithuanian unit of Poland's PKN Orlen, posted a 13.7% year-on-year growth in oil. Lithuania's gas trade company Litgas, which is operated by state-run Lietuvos Energija (Lithuanian Energy) holding, earned 209.294 million euros in income in 2015 and netted a profit of 4.923 million euros. The European Central Bank said on May 4th it would no longer produce and issue EUR 500 banknotes, amid fears the purple-colored bills were favored by criminals for money laundering and even terrorist financing. Lithuania's oil product and liquefied natural gas (LNG) terminals operator Klaipedos Nafta (Klaipeda Oil) said on May 6th that its total revenue for January through April 2016 rose by 9.9% year-on-year to reach 39.82 million euros. This year marks 10 years since ‘PKN Orlen’ became the owner of the oil refinery in Mažeikiai. Today ‘Orlen Lietuva‘ (known as ‘Mažeikių nafta‘ until 2009) is the largest Polish investment and the largest tax payer in Lithuania. It is also the largest foreign investment on Lithuanian territory. There are EUR 51.6 million of funding available for Latvia-Lithuania cooperation projects from the European Regional Development Fund (ERDF). Lithuania still interested in buying the Klaipeda LNG terminal's vessel from its owner2016-05-03, 09:53Energy Minister Rokas Masiulis says that Lithuania remains interested in buying the Klaipeda liquefied natural gas (LNG) terminal's vessel from its owner, Norway's Hoegh LNG, before the 10-year charter contract expires in 2024, but it is difficult to say if meetings to be held by Prime Minister Algirdas Butkevicius and him in Oslo this week will help move the talks forward. |
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