0
0
0Elering Chief Says Estonia no Longer Dependent on Russian Gas
- New Europe Investor
- January 07, 2016
Elering CEO, Taavi Veskimagi has said that Estonia is no longer dependent on gas from Russia and should therefore embrace the environmentally friendly fuel.
Veskimagi said that dependence on Russian gas was once considered a security threat to Estonia, but it is no longer the case due to the creation of a common gas market between Finland and the Baltics.
Last summer, Elering purchased Gazprom’s 37% stake in the Estonian gas market, having only previously operated Estonia’s power grid.
Whilst the Balticconnector pipeline between Finland and Estonia will offer an alternative supply to Estonia, it is likely to increase the price of gas due to the covering of the construction cost.
However, as the European Union is picking up 75% of the cost of the pipeline, a large portion will not have to be absorbed by Estonian consumers.
Related Articles
-
Estonia’s Lux Express to Open Routes in Russia
Estonia’s Lux Express to Open Routes in Russia
April 22, 2017Estonian bus operator Lux Express is set to begin operating regular domestic services in ...
-
British Taxi Service to Open in Moscow to Rival Uber
British Taxi Service to Open in Moscow to Rival Uber
April 10, 2017Competition in the Moscow taxi market is set to increase after an alliance of ride-hailing ...
-
Russia Proposes Currency Devaluation
Russia Proposes Currency Devaluation
February 05, 2017The Russian Finance Ministry has reportedly proposed devaluing the ruble by as much as 10% in ...
-
Russia Sells 19.5% Stake in Rosneft
Russia Sells 19.5% Stake in Rosneft
December 11, 2016Russian oil giant, Rosneft has sold a 19.5% stake to Glencore and The Qatari Sovereign Wealth ...
-
Russian Banking Jobs Fall by 15% Since 2014
Russian Banking Jobs Fall by 15% Since 2014
October 12, 2016Figures from the Russian state statistics agency Rosstat have shown that jobs in the Russian ...
