Pan-Baltic discussion on energy: How cold will the winter be?

Dec 08, 2021

All three Baltic AmChams held yet another webinar on a topical theme on the current challenges faced by the EU and Baltic energy market including a panel discussion featuring experts from all Baltic countries representing the energy and manufacturing sector:

  • STEFAN JUGEL, Chairman of the Board of Valmiera Glass Group Latvia
  • GATIS JUNGHANS, Board Member of Augstsprieguma tikls (AST)
  • KALEV KALLEMETS, Ph.D. Co-founder, CEO of Fermi Energia 
  • DARIUS SILENSKIS, CEO of Klaipedos Nafta
  • HANNES REINULA, Member of the Management Board of Eastman Specialties

The keynote remarks were delivered by Thor-Sten Vertmann, Member of the Cabinet of EU, Commissioner for Energy. Mr. Vertmann outlined the EU Energy system integration strategy and emphasized energy efficiency and flexibility to make the transition of the energy market. He pointed out clean power tehcnologies that are cost competitive and stressed that currently 32% of efficiency is coming from renewable sources that will reach 65% by 2030. The public funding in green transition will not be enough, therefore private sector's contribution is crucial.

The panel discussion was moderated by Pauls Miklasevics, AmCham Vice President and Chief Asset Management Officer of BlueOrange Bank.

Experts adressed issues related to energy security and transition to low carbon energy sources. They also touched upon the subject of decarbonization which is impacting Europe’s energy security and looked at ways to foster resilience of the energy sector.

According to Mr. Kallements there is an essentail need for a new gas facility in the Baltics as well as investments in exisiting sources of energy, especially in oil shale in Estonia.

Mr. Jugel pointed out that in relation to production of atomic power plants more initiative should come from private investors.

Mr. Junghans explained that Latvian transition grid is able to integrate as much renewable energy as necessary in order to achieve the national target and is ready to also go beyond it.


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