"It's definitely very amazing how Eesti Energia has adapted to the world energy market and climate policy agreements, producing oil from oil shale which has a high calorific value and is rather environment-friendly," Masiulis said.
Eesti Energia has developed a remarkable technology for the production of oil shale and dared to make large-scale investments to develop production capacities, the Lithuanian minister said.
"Even though Eesti Energia manager Hando Sutter is concerned over the big fluctuations in the price of shale oil lately, ten years ago no one would have believed that a plan to sell shale oil will work," Masiulis said.
It's namely shale oil, which puts Estonia apart from the other Baltic countries in the production of energy, Masiulis said.
"While we understand that Estonia kind of has a path of its own, we also hope to move forward with bigger regional projects such as the Visaginas nuclear power plant," the minister added.
