JSC “EPSO-G”, Lithuanian energy Group Company and CEEP member, recently shared some details about its five-year strategy. It comprises four key directions of the activities of the Group – sustainable growth and the long-term benefit for shareholders; the development of regional activity and the implementation of strategic projects; effective operations; and the formation of a creative and progressive organisation. The strategy also includes the Group’s financial targets and goals. The Group’s average return on equity in the next coming five years is expected to reach 6.4%, with EBITDA to make up at least EUR 70 million at the end of the period. The strategy identifies EPSO-G group’s strategic projects. The key objective in the electricity sector is to prepare for synchronisation of the Baltic system with continental Europe network. The preparatory works of this project are outlined in the strategy and the transmission system operator for electricity, LITGRID SC, is responsible of its implementation. The objectives in gas sector are to efficiently utilize the country’s well-developed gas infrastructure and take advantage of the LNG terminal in cooperation with other Baltic countries. Hence, EPSO-G actively participates in developing the regional gas market and expand the operations of the natural gas exchange operator, GET Baltic, for a more enhanced regional integration as from 2020. Furthermore, the project of the Gas Interconnection Poland–Lithuania (GIPL), done in collaboration with Polish partners, should be completed by the end of 2021. Once the project is completed by the implementing company, Amber Grid SC, the Baltic countries and, likely, Finland will become part of the EU single gas market. The energy exchange operator, BALTPOOL, is responsible [...]
In the below interview, the CEO of EPSO-G, Rolandas Zukas, explains the impact of the regional cooperation on the energy sector from Lithuania, as well as describing the achievements from the last months in terms of security of supply, gas and electricity. From the LNG terminal in Lithuania’s Klaipėda port, to under-the-sea energy bridge with Sweden NordBalt as well as electricity link with Poland. What do you want to accomplish as a CEEP member? Nowadays when the future is happening faster than ever, we all in the energy sector have no other option than to work closer to tackle shared strategic energy challenges, but opportunities as well. In this respect, we see our membership in the independent industry body, CEEP, as a way to assist the EU once it takes legislative moves towards further diversification of its energy routes and sources, particularly across Central and Eastern Europe and the Baltic countries. Which should be CEEP’s priorities for the next years from your perspective? EPSO-G, Lithuania‘s state run holding of electric energy and gas transportation systems, has long been looking for efficient ways to diversify from what it used to be a historical dependence on monopoly gas supply from the East and isolation of its electricity and gas networks from the neighboring European markets. The situation has drastically changed over the past 18 months. Lithuania welcomed the arrival of the „Independence”, a floating liquefied natural gas import (LNG) terminal that marked the end of country‘s reliance on gas supplies from a single source. That affected positively gas prices for consumers and businesses. The under-the-sea energy bridge with Sweden NordBalt as [...]
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