The Baltic Pipe: an agreement with INEA on financing

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Lithuania’s budget revenues above projected level

Hungary and Russia reached agreement on gas deliveries in 2019

Poland

The Polish Radio informs about a deal that has been signed between the operators of the Polish and Danish gas transmission networks and the EU’s Innovation and Networks Executive Agency (INEA). The document defines the details of co-financing the Baltic Pipe. It is a result of a decision of European member states “to provide EU financial support for the Baltic Pipe project under the Connecting Europe Facility (CEF) program”. According to Polish operator Gaz System, the maximum financial assistance amounts to EUR33.1m.

The planned pipeline will link Poland with Norway via Denmark.

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Lithuania

Lithuania’s central government and local authorities collected a total of EUR2.675bn in budget revenues between January and April 2018 – the Baltic Course reports. It’s EUR24.2m or 0.9 per cent above the projected level.

The Finance Ministry of Lithuania informed on May 24th that in the period mentioned central government’s budget revenues were EUR2.069bn. It’s EUR15.2m or 0.7 per cent above the target. The portal reminds that 2018 budget projects EUR6.767bn in annual revenues, excluding EU funds, and EUR9.071bn including EU funds.

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Hungary

Hungary has just reached an agreement with Russia on the volume and price of gas deliveries in 2019, and started negotiations for 2020 – the Budapest Business Journal informs. The information was announced by Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade, who participated in the St. Petersburg International Economic Forum.

As reported, Szijjártó met with the Russian Foreign Minister Sergey Lavrov, Minister of Industry and Trade, Denis Manturov, Gazprom CEO Alexey Miller and Rosatom deputy-CEO Kirill Komarov.

At the same time, Russian Rosatom – the general contractor for Hungary’s Paks nuclear power plant – informed in May 25th that it would start construction of two blocks at Paks NPP in 2020 and that “the blocks would start operating in 2026 and 2027”.

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What’s up in indexes

BET (of Bucharest) decreased from 8,281.67 index points Thursday, May 24th to 8,263.10 index points Friday, May 25th. It’s down 0.03 per cent d/d and down 3.81 per cent y/y.

BUX (of Budapest) decreased from 35,892.62 index points Thursday, May 24th to 35,758.06 index points Friday, May 25th. It’s down 0.37 per cent d/d and up 4.10 per cent y/y.

CROBEX (of Zagreb) increased from 1,848.73 index points Thursday, May 24th to 1,860.12 index points Friday, May 25th. It’s up 0.62 per cent d/d and up 2.13 per cent y/y.

OMXR (of Riga) increased from 1,038.55 index points Thursday, May 24th to 1,049.21 index points Friday, May 25th. It’s up 1.03 per cent d/d and up 25.40 per cent y/y.

OMXT (of Tallinn) decreased from 1,258.74 index points Thursday, May 24th to 1,254.31 index points Friday, May 25th.  It’s down 0.35 per cent d/d and up 11.78 per cent y/y.  

OMXV (of Vilnius) decreased from 712.30 index points Thursday, May 24th to 711.30 index points Friday, May 25th. It’s down 0.14 per cent d/d and up 21.58 per cent y/y.

PX (of Prague) decreased from 1,103.42 index points Thursday, May 24th to 1,087.50 index points Friday, May 25th. It’s down 1.44 per cent d/d and up 7.68 per cent y/y.

SAX (of Bratislava) closed at 329.78 index points Friday, May 25th. It’s 0 per cent change d/d and up 6.88 per cent y/y.

SOFIX (of Sofia) decreased from 642.90 index points Wednesday, May 23rd to 642.09 index points Friday, May 25th. It’s down 0.13 per cent d/d and down 2.49 per cent y/y.

UX (of Kyiv) decreased from 1,662.67 index points Thursday, May 24th to 1,641.27 index points Friday, May 25th. It’s down 1.29 per cent d/d and up 75.57 per cent y/y.

WIG20 (of Warsaw) decreased from 2,213.26 index points Thursday, May 24th to 2,213.24 index points Friday, May 25th. It’s 0 per cent change d/d and down 6.16 per cent y/y.

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