Poland and Baltics signed an agreement on GIPL gas pipeline
Americans are pressuring European companies to withdraw from Nord Stream 2
Central and Southeast Europe
Slovak Spectator reports on the latest Digital Economy and Society Index (DESI) published by European Commission (EC). According to DESI, Estonia is the most advanced digital economy among the 28 EU countries. It ranks 9th. The worst CSE performers are Romania (ranks last), Bulgaria, Poland, Hungary, and Croatia. Slovakia ranks 20th.
Slovak Spectator points out that “while Slovakia achieved 49.5 points, four points more than a year ago, this was only enough for the 20th place within the 28-member countries of the EU”. The portal adds after the report that “Slovaks are average internet users and make good use of a variety of online services” and that “availability of fixed broadband and 4G services are not as widespread as would be desirable, but ultrafast broadband coverage is well above the EU average”.
According to EC in 2017 all Member States improved in the rank. In the last 4 years, the biggest progress was observed in Ireland, Cyprus, and Spain. The leaders of digitalization in the whole European Union are Denmark, Sweden, Finland and the Netherlands.
Baltic countries and Poland
The Baltic Course informs that the Baltic and Polish gas transmission companies signed a cost-sharing agreement connected with the GIPL gas pipeline project. Poland and Lithuania are preparing for the construction of the gas pipeline linking the two countries.
As reported, the document “defines principles necessary for the implementation of the Agency for the Cooperation of Energy Regulators (ACER) decision regarding the project’s costs”.
According to the 2014 decisions, the Baltic States should cover EUR85.8m of Poland’s cost. From that sum, EUR54.9m should be paid by Lithuania, EUR29.4m by Latvia and EUR1.5m by Estonia.
The agreement signed last week allows Lithuanian Amber Grid to sign a separate agreement on connecting gas pipelines with the project’s partner Gaz-System.
Poland’s Foreign Minister Jacek Czaputowicz informed that “Americans are putting diplomatic pressure on European companies to withdraw from the Nord Stream 2 project”. The Polish Radio reports on the meeting of the Polish official with the US Secretary of State Mike Pompeo that took during Mr. Czaputowicz’s visit to the USA.
The Polish Radio quotes Mr. Czaputowicz: “If diplomatic means are not efficient, the US may take stronger measures, such as sanctions, but they hope that will not be necessary”.
The portal points out that the Nord Stream 2 project, linking Russian gas fields with the German distribution network, circumventing Poland and other CEE countries, could “serve as a tool for economic blackmail, further destabilizing Ukraine, Poland’s neighbor”.
What’s up in indexes
BET (of Bucharest) decreased from 8,409.70 index points Friday, May 18th to 8,260.86 index points Monday, May 21st. It’s down 1.78 per cent d/d and down 2.86 per cent y/y.
Monday, May 21st was a non-trading at Budapest Stock Exchange. BUX (of Budapest) closed at 36,770.93 index points Friday, May 18th.
CROBEX (of Zagreb) decreased from 1,855.19 index points Friday, May 18th to 1,849.34 index points Monday, May 21st. It’s down 0.32 per cent d/d and up 1.86 per cent y/y.
OMXR (of Riga) decreased from 1,047.11 index points Thursday, May 17th to 1,037.29 index points Monday, May 21st. It’s down 0.94 per cent d/d and up 24.65 per cent y/y.
OMXT (of Tallinn) decreased from 1,252.18 index points Friday, May 18th to 1,251.62 index points Monday, May 21st. It’s down 0.04 per cent d/d and up 12.04 per cent y/y.
OMXV (of Vilnius) decreased from 709.90 index points Friday, May 18th to 708.42 index points Monday, May 21st. It’s down 0.21 per cent d/d and up 21.40 per cent y/y.
PX (of Prague) decreased from 1,104.56 index points Friday, May 18th to 1,102.15 index points Monday, May 21st. It’s down 0.22 per cent d/d and up 8.38 per cent y/y.
SAX (of Bratislava) decreased from 329.11 index points Friday, May 18th to 324.32 index points Monday, May 21st. It’s down 1.46 per cent d/d and up 5.79 per cent y/y.
SOFIX (of Sofia) decreased from 647.84 index points Friday, May 18th to 646.24 index points Monday, May 21st. It’s down 0.25 per cent d/d and down 1.34 per cent y/y.
UX (of Kyiv) increased from 1,841.51 index points Friday, May 18th to 1,859.37 index points Monday, May 21st. It’s up 0.97 per cent d/d and up 99.75 per cent y/y.
WIG20 (of Warsaw) increased from 2,230.32 index points Friday, May 18th to 2,268.39 index points Monday, May 21st. It’s up 1.71 per cent d/d and down 2.59 per cent y/y.