Poland with long-term contract on US LNG deliveries

(Lens Envy, CC BY-NC-ND)

Romania’s Craiova to become an industrial area

Estonia: EUR412m in stabilization reserve

Poland

The state-controlled gas company PGNiG signed a long-term deal on liquefied natural gas (LNG) deliveries with an American supplier, Cheniere. The contract provides that during the next 24 years (2019-2042) Poland will receive 700 million cubic meters of gas in the years 2019-2022. In the years 2023-2042 it will import 39 billion cubic meters. by Poland’s President Andrzej Duda and US Energy Secretary Rick Perry took part in the signing ceremony.

The cost of the deal was not disclosed but PGNiG’s CEO Piotr Woźniak explained that the price of the gas is “20-30 per cent lower than what Poland pays its current supplier in Russia”.

The AP reminds that Poland’s annual consumption of gas is almost 16 billion cubic meters of which 25 per cent is covered by Poland’s own deposits.

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Romania

The international carmaker Ford plans to increase its headcount in a factory in the Romanian town of Craiova by hiring 1,700 workers. At the same time the investor Zacaria Group will invest EUR28m in the project of developing the first industrial park in this part of Romania. As Novinite.com informs, Southern Industrial Park Craiova will be built near the Ford’s factory.

The portal explains that Ford is currently the largest employer in the region with more than 4,400 employees.

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Estonia

Estonia had EU412m in stabilization reserve by the end of September 2018 — the Baltic Course informs. EUR1.1m have been placed into the reserve during the year.

The Baltic Court points out that the stabilization reserve was created in 1997 to reduce general economic risk. It then reached EUR44.84m. “According to law, the reserve can be used for mitigating general economic risks and alleviating crises, solving states of emergency, states of war or other emergency situations. The reserve can also be used for solving and preventing financial crises of financial institutions caused by liquidity or solvency related difficulties or significant failures in the payment or funds transfer systems,” the Baltic Course explains.

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What’s up in indexes

BET (of Bucharest) decreased from 8,671.98 index points Wednesday, November 7th to 8,571.53 index points Thursday, November 8th. It’s down 1.09 per cent d/d and up 10.21 per cent y/y.

BUX (of Budapest) increased from 38,198.00 index points Wednesday, November 7th to 38,713.45 index points Thursday, November 8th. It’s up 1.35 per cent d/d and down 3.51 per cent y/y.

CROBEX (of Zagreb) increased from 1,783.95 index points Wednesday, November 7th to 1,785.70 index points Thursday, November 8th. It’s up 0.10 per cent d/d and down 1.04 per cent y/y.

OMXR (of Riga) decreased from 949.94 index points Wednesday, November 7th to 949.02 index points Thursday, November 8th. It’s down 0.10 per cent d/d and down 7.54 per cent y/y.

OMXT (of Tallinn) increased from 1,188.32 index points Wednesday, November 7th to 1,191.78 index points Thursday, November 8th. It’s up 0.29 per cent d/d and down 2.50 per cent y/y.

OMXV (of Vilnius) decreased from 652.52 index points Wednesday, November 7th to 649.41 index points Thursday, November 8th. It’s down 0.48 per cent d/d and down 2.23 per cent y/y.

PX (of Prague) increased from 1,075.79 index points Wednesday, November 7th to 1,085.95 index points Thursday, November 8th. It’s up 0.94 per cent d/d up 3.02 per cent y/y.

SAX (of Bratislava) decreased from 331.43 index points Wednesday, November 7th to 330.97 index points Thursday, November 8th. It’s down 0.14 per cent d/d and up 3.59 per cent y/y.

SOFIX (of Sofia) increased from 592.62 index points Wednesday, November 7th to 595.00 index points Thursday, November 8th. It’s up 0.40 per cent d/d and down 11.52 per cent y/y.

UX (of Kyiv) closed at 1,786.65 index points Thursday, November 8th. It’s the same result as Wednesday’s. It’s 0 per cent change d/d and up 41.74 per cent y/y.

WIG20 (of Warsaw) decreased from 2,276.65 index points Wednesday, November 7th to 2,262.84 index points Thursday, November 8th. It’s down 0.61 per cent d/d and down 9.97 per cent y/y.

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