Lithuania eyes 700MW offshore wind zone that could meet 25% of its power needs

15/05/2020 10:34 Wind


Lithuania’s energy ministry has submitted a government decree for public consultation on the location of a 700MW wind array off its coast that could provide up to a quarter of the small Baltic nation’s electricity needs.

The zone foreseen covers an area of 137.5 square kilometres, and is located some 29km from shore, with average water depths of 35 metres, and wind speeds seen at about 9 m/s, the energy ministry said in a release.


“Fierce competition will begin for investment in this area, and we need to be as well prepared as possible for this,” energy minister Žygimantas Vaičiūnas said.


A final decision on the location of the offshore wind farm is expected to be taken at the beginning of June, Rytis Kėvelaitis, vice minister for energy told Recharge.


Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

06/07/2020 10:40:00

Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.


Swinoujscie terminal receives 100th LNG shipment

06/07/2020 10:05:00

The Swinoujscie gas terminal in north-western Poland received its 100th liquefied natural gas cargo on Friday. The 90,000 tonnes LNG shipment came from Qatar Liquefied Gas Company Limited (Qatargas) aboard the Al-Safliya LNG tanker.


Russia's Novak sees global oil output cuts easing from August

06/07/2020 09:56:00

Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.