The drilling of the Tidikas-1 exploration well on the Raseiniai licence onshore Lithuania has been successfully completed by the energy company Tethys Oil.

Lithuanian Minister of Transport and Communications Rimantas Sinkevicius presented opportunities for Lithuanian-Chinese cooperation at the 2nd China (Lianyungang) Silk Road International Logistics Expo, which was opened yesterday.

The surplus balances of services and secondary income in the second quarter of 2015 did not offset the increasing foreign trade and primary income balances deficits; thus, a current account deficit of EUR 517.8 million built up. The current account deficit for the first half year amounted to EUR 872.9 million.

Lithuanian Prime Minister Algirdas Butkevicius has met with Jyrki Katainen, vice president of the European Commission, responsible for jobs, growth, investment and competitiveness to discuss the Strategic Investment Fund (EFSIS) and its implementation, as well as the Baltic energy security. EU Commissioner Vytenis Andriukaitis, also attended the meeting.

The average electricity price in the Nord Pool Spot Lithuanian bidding area was stable on 7-13 September 2015 and stood at EUR 42 per MWh, i.e. it was lower by a third compared to the same period of 2014.

The size of non-taxable income will grow by EUR 34 in Lithuania, said Prime Minister Algirdas Butkevicius.

So far, the state natural gas supplier and trader, Litgas, has been selling all of its gas imported through the liquefied natural gas (LNG) terminal in Klaipeda only to consumers in Lithuania, but now is planning to supply 30 million cubic metres of LNG to Estonian companies by the end of the year 2015.

Prime Minister of Lithuania Algirdas Butkevicius said on Wednesday that an agreement on the Gas Interconnection Poland-Lithuania (GIPL) project was reached.

Statistics Lithuania reports that in September 2015 compared with August, monthly inflation based on the harmonised index of consumer prices (HICP) is likely to stand at 0%.

The environment of low interest rates and significant fluctuations in the financial markets encourages central banks and other conservatively-investing investors to change their usual investment models and look for new opportunities to earn return without decreasing the security of investments – this was stated at the international institutional investors conference in Vilnius, organised by the Bank of Lithuania.