Moldova to return to “the normal state of relations” with the EU

Pavel Filip, Prime Minister of Moldova, and Federica Mogherini (European External Action Service, CC BY-NC)

European Union budget for 2017 has been approved

Ukrtransgaz signs contracts with TrailStone and DufEnergy

Lithuanian Litgrid to invest over EUR760m in power transmission grid in 10 years

Moldova

“We returned to a normal rhythm of our relations with the European Union. A maximal mobilization for ensuring the transparent implementation of the Association Agreement is needed furthermore,” Moldovan Prime Minister, Pavel Filip informed in Brussels. It is an important information after Moldovan presidential election was won by pro-Russian Igor Dodon.

As YEMNews informs, on November 28th, Filip met the President of the European Council, Donald Tusk, “with whom he discussed the political situation in Moldova and the priority reforms in the European agenda.” Mr. Tusk expressed his appreciation for the results of talks.

Filip and Moldovan Ministers had also a meeting with the Commissioner for the Energy Union Maroš Šefčovič and the Vice-President of the European Commission, Valdis Dombrovskis. With the latter they discussed European support for Moldovan reforms with a macro-financial assistance of EUR100m (of which EUR40m are granted).

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European Union

The governments of the European Union approved, at a final reading, the budget of the EU for 2017. Now the document has to be approved by the European Parliament. The vote will take place in Brussels on December 1st , 2016.

Novinite.com reports that the formal approval became possible “after a deal of the two European institutions for an increase of 11 per cent for expenditures on the re-settlement and integration of refugees, repatriation of illegal migrants and strengthening of border controls – a total of EUR6bn for 2017.”

EUR21.3bn will be spent on the economic stimuli (up 12 per cent). The funds for investments, under the Juncker plan for the economic growth, will be increased by 25 per cent via attracting private capital.

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Ukraine

Ukrainian joint-stock company Ukrtransgaz has signed contracts with TrailStone Energy LLC and DufEnergy Trading SA on cooperation in transportation of natural gas and its storage in Ukrainian underground storage facilities, the Interfax reports.

Until recently, TrailStone, DufEnergy and Engie (earlier GDF Suez SA) that had signed a similar contract with Ukrtransgaz in October 2016 sold gas to Ukrainian traders on the Ukrainian border.

The signing of the contracts would permit European companies to supply gas to Ukraine and sell it directly to Ukrainian traders and consumers.

“We are actively working on attracting European traders to work on the Ukrainian gas market. We are waiting for pilot supplies in December,” said Ihor Prokopiv, Ukrtransgaz President.

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Lithuania

According to the Baltic Course Lithuania’s electricity transmission system operator, Litgrid is planning to invest EUR671.18m in the power grid in the next ten years. The company will be developing the energy system’s 400-110 kilovolt power line network starting from 2016 till 2025.

The Lithuanian energy market regulator stated, after the analysis, “that the investments envisaged in the plan will ensure a reasonable development of the electricity sector that will meet the market’s needs, as well as the reliable and efficient operation of the transmission system, which will allow guaranteeing quality services for consumers.”

The Baltic Course reports that in 2016 Litgrid has cut planned investments by 44.6 per cent, due to the completion of investments in the NordBalt and LitPol Link power interconnections in 2015.

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What’s up in indexes

BUX (of Budapest) was up 0.08 per cent d/d and up 25.43 per cent from year-end. It increased from 29979.96 index points Friday, November 25th to 30003.00 index points Monday, November 28th.

BET (of Bucharest Stock Exchange) dropped by 0.40 per cent d/d and by 2.74 per cent from year-end. It decreased from 6836.12 index points Friday, November 25th to 6810.43 index points Monday, November 28th.

PX (of Prague) decreased from 888.14 index points Friday, November 25th to 885.13 index points Monday, November 28th. So it dropped by 0.34 per cent d/d and by 7.45 per cent from year-end.

WIG20 (of Warsaw) decreased from 1796.30 index points Friday, November 25th to 1776.30 index points Monday, November 28th. So it dropped by 1.11 per cent d/d. From year-end it dropped by 4.46 per cent.

OMXT (of Tallinn) decreased from 1036.00 index points Friday, November 25th to 1034.36 index points Monday, November 28th. So it dropped by 0.16 per cent d/d. From year it’s up 15.06 per cent.

OMXR (of Riga) increased from 736.91 index points Friday, November 25th to 748.86 index points Monday, November 28th. So it’s up 1.62 per cent d/d. From year-end it’s up 26.00 per cent.

OMXV (of Vilnius) increased from 555.99 index points Friday, November 25th to 557.76 index points Monday, November 28th. So it’s up 0.32 per cent d/d. From year-end it’s up 14.77 per cent.

SAX (of Bratislava) increased from 308.57 index points Friday, November 25th to 311.81 index points Monday, November 28th. So it’s up 1.05 per cent d/d. From year-end it’s up 6.66 per cent.

SOFIX (of Sofia) was up 0.18 per cent d/d and up 20.71 per cent from year-end. It increased from 555.32 index points Friday, November 25th to 556.33 index points Monday, November 28th.

UX (of Kyiv) dropped by 0.25 per cent – falling from 799.13 index points Friday, November 25th to 797.10 index points Monday, November 28th. From year-end it’s up 16.22 per cent.

CROBEX (of Zagreb) dropped by 0.29 per cent – falling from 1992.49 index points Friday, November 25th to 1986.76 index points Monday, November 28th. From year-end it’s up 17.59 per cent.

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