VILNIUS — The agreement that formally spells out the specifics of the NordBalt power cable that will run from Lithuania to Sweden was signed on Thursday.
The power cable that will run along the Baltic Sea seabed will give Lithuania and Latvia a connection to the western electricity networks NORDEL and UCTE, as even though Lithuania borders Poland it is still not connected to Poland’s power grid. At the moment the two countries are only connected to the IPS/UPS grid, meaning that they are dependent on [private_supervisor]their eastern neighbors for power.
Lietuvos Energija director general Aloyzas Koryzna and Affaersverket Svenska Kraftnaet head Mikael Odenberg signed the agreement, which formalizes years of preparation.
The agreement’s key points dictate the specifics of the cable’s planning, construction, operational phases and financing.
Up until last year, Latvia had been demanding that the cable land on its soil because of the jobs the project will create. Eventually Lithuania was chosen because of operational reasons.
Lietuvos Energija is responsible for half of the €522 million cable and the facilities near Klaipeda where the cable will land on the Baltic side. Affaersverket Svenska Kraftnaet will be in charge of construction of the other half. The cable’s deadline for construction is 2016.
The EU will pay €131 million in support for the cable, which will help liberalize the energy markets of the Baltic states.
Lithuania has been left in the hands of Russia for its energy needs following the shutdown of the Ignalina nuclear power plant at the start of the year. It now uses gas from Russia to power its heat and electricity plants.
The Baltic states last year inaugurated the open Baltic energy market, removing tariffs for international energy sales. Since then, Eesti Energia signed a deal with Lithuania to supply the country with 10 percent of its energy needs. [/private_supervisor] [private_subscription 1 month]their eastern neighbors for power.
Lietuvos Energija director general Aloyzas Koryzna and Affaersverket Svenska Kraftnaet head Mikael Odenberg signed the agreement, which formalizes years of preparation.
The agreement’s key points dictate the specifics of the cable’s planning, construction, operational phases and financing.
Up until last year, Latvia had been demanding that the cable land on its soil because of the jobs the project will create. Eventually Lithuania was chosen because of operational reasons.
Lietuvos Energija is responsible for half of the €522 million cable and the facilities near Klaipeda where the cable will land on the Baltic side. Affaersverket Svenska Kraftnaet will be in charge of construction of the other half. The cable’s deadline for construction is 2016.
The EU will pay €131 million in support for the cable, which will help liberalize the energy markets of the Baltic states.
Lithuania has been left in the hands of Russia for its energy needs following the shutdown of the Ignalina nuclear power plant at the start of the year. It now uses gas from Russia to power its heat and electricity plants.
The Baltic states last year inaugurated the open Baltic energy market, removing tariffs for international energy sales. Since then, Eesti Energia signed a deal with Lithuania to supply the country with 10 percent of its energy needs. [/private_subscription 1 month] [private_subscription 4 months]their eastern neighbors for power.
Lietuvos Energija director general Aloyzas Koryzna and Affaersverket Svenska Kraftnaet head Mikael Odenberg signed the agreement, which formalizes years of preparation.
The agreement’s key points dictate the specifics of the cable’s planning, construction, operational phases and financing.
Up until last year, Latvia had been demanding that the cable land on its soil because of the jobs the project will create. Eventually Lithuania was chosen because of operational reasons.
Lietuvos Energija is responsible for half of the €522 million cable and the facilities near Klaipeda where the cable will land on the Baltic side. Affaersverket Svenska Kraftnaet will be in charge of construction of the other half. The cable’s deadline for construction is 2016.
The EU will pay €131 million in support for the cable, which will help liberalize the energy markets of the Baltic states.
Lithuania has been left in the hands of Russia for its energy needs following the shutdown of the Ignalina nuclear power plant at the start of the year. It now uses gas from Russia to power its heat and electricity plants.
The Baltic states last year inaugurated the open Baltic energy market, removing tariffs for international energy sales. Since then, Eesti Energia signed a deal with Lithuania to supply the country with 10 percent of its energy needs. [/private_subscription 4 months] [private_subscription 1 year]their eastern neighbors for power.
Lietuvos Energija director general Aloyzas Koryzna and Affaersverket Svenska Kraftnaet head Mikael Odenberg signed the agreement, which formalizes years of preparation.
The agreement’s key points dictate the specifics of the cable’s planning, construction, operational phases and financing.
Up until last year, Latvia had been demanding that the cable land on its soil because of the jobs the project will create. Eventually Lithuania was chosen because of operational reasons.
Lietuvos Energija is responsible for half of the €522 million cable and the facilities near Klaipeda where the cable will land on the Baltic side. Affaersverket Svenska Kraftnaet will be in charge of construction of the other half. The cable’s deadline for construction is 2016.
The EU will pay €131 million in support for the cable, which will help liberalize the energy markets of the Baltic states.
Lithuania has been left in the hands of Russia for its energy needs following the shutdown of the Ignalina nuclear power plant at the start of the year. It now uses gas from Russia to power its heat and electricity plants.
The Baltic states last year inaugurated the open Baltic energy market, removing tariffs for international energy sales. Since then, Eesti Energia signed a deal with Lithuania to supply the country with 10 percent of its energy needs. [/private_subscription 1 year]
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