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She said that the construction of the gas depression, which is unfortunately and inside Lithuania; favourable prices
interconnection with Bulgaria, the Nis- multiplied by the pandemic situation prevailing on the gas markets reduced
Dimitrovgrad gas pipeline, is the first step that we have never experienced before. costs incurred.
toward the diversification of not just gas It has led to a decrease in the refining “The year 2020 was the year of low gas
routes, but also gas suppliers and a possibility model margin by 60%. As market demand prices. It resulted in the largest gas flows
of receiving gas from other sources, has fallen dramatically, especially in the transmitted through the Lithuanian system
including Azerbaijan as well as the LNG aviation segment, we also saw a significant in this period. In total, we transported
terminal in Greece and the future Eastern drop in wholesale prices too. Better results 58 TWh of gas, the larger quantity of this
Mediterranean Gas Pipeline in the last part of the year did not allow us energy was consumed in Lithuania; while
“This will also enable gas stability, but also to cover the negative impact of revaluation in the Baltic states, together with Finland,
bigger possibilities for connecting within the of inventory of raw materials and finished we transported a record quantity of gas -
region, primarily with Montenegro, Bosnia products,” he added. one third more than in 2019. Good prices
& Herzegovina and the gas supply of Kosovo The volume of processed crude oil allowed us to reduce our spending by two
and Metohija,” Mihajlovic added. stood at 6.08mn tonnes. Sales volumes of times, buying gas for technological needs
She emphasised that the money for the refinery products amounted to 5.27mn and flow balancing of the network. It
construction of a gas interconnection had tonnes and of petrochemical products determined doubled net profit,” said CEO
been secured from European funds and loans reached 1.66mn tonnes. of Amber Grid Nemunas Biknius.
from European banks and that the plan was According to the Capitalinked. The net profit of the company in 2020
for the gas pipeline to be operational in 2023. com analyst Radim Dohnal, refineries, was €18.1mn, a 53% increase from 2019.
especially in Europe, are currently in a EBITDA stood at €26mn, and was 7%
very difficult situation. “Weak passenger higher than in 2019 at €24.3mn.
Czech petrochemical transport does not allow rising oil prices Finnish gas pipeline Balticconector and
“Following the launch of the Estonian-
to be reflected in sales prices. In addition,
holding Orlen Unipetrol the volumes of refinery products sold are opening of the Finnish gas market at the
beginning of 2020, Amber Grid owned
significantly lower than in 2019. The same
recorded CZK5bn loss in fixed costs must therefore be calculated gas exchange GET Baltic significantly
expanded its activity. The number of
for lower volumes. Thus, refineries will
2020 record the worst margins in 2020 and quite exchange clients and transactions was
growing last year, enabling us to achieve
possibly in 2021, in negative numbers,” he
Czech petrochemical holding company Orlen said, quoted by the Czech News Agency. good financial performance,” said Biknius.
Unipetrol, a member of the Polish Orlen “The original minority shareholders of Investments of Amber Grid into the gas
Group, made a loss of CZK5.4bn (€209.8mn) Unipetrol can congratulate themselves that transmission network modernisation in
in 2020, down from a net profit of CZK726mn the takeover by Orlen took place before 2020 went up 400% on year and amounted
in 2019, as a result of the ongoing coronavirus this situation,” he added. to €90mn.
crisis. Its revenues decreased by 35% year-on- The group is the largest refinery and The biggest investment, ca €77mn, was
year to CZK83.1bn, the company stated in its petrochemical company in Czechia, made into the construction of the GIPL gas
press release. focusing on crude oil processing and on connector between Lithuania and Poland.
The company’s investment amounted the production, distribution and sale of The total investment into the GIPL project
to CZK10bn in 2020, primarily for the vehicle fuels and petrochemical products, is €84mn by now. By the end of 2020, the
ongoing modernisation of production particularly plastics and fertilisers. construction works of the entire project
technologies in both refineries, It also includes a network of Benzina were completed by 61%, and all steel pipes
construction of a new gas-fired boiler filling stations in Czechia (416) and needed for the gas pipeline construction
house of the steam cracker and the last Slovakia (20). It employs more than 4,800 were delivered to Lithuania.
phase of completion of the polyethylene people. . In 2020, compared with the previous
unit, PE3. year, gas transmission to the Baltic States
In 2021, it plans to carry on with grew by 33%, up to nearly 8 TWh gas. Gas
an investment of CZK8bn, to further Lithuania’s gas transmission consumption in Lithuania increased by
modernise production capacities and 7%, the total consumption was 25.1 TWh
increase energy and operational efficiency system operator Amber Grid during the year, compared to 23.5 TWh in
and reliability. The company will start 2019.
completing a brand-new production unit made net profit of €18mn in During January – December 2020,
that will manufacture a new product, 33 TWh of natural gas, excluding gas
liquid hydrocarbon DCPD. 2020 transportation to Kaliningrad District, was
In the retail segment, the company transported for consumers in Lithuania,
successfully continued strengthening its Lithuania’s gas transmission system operator Latvia, Estonia and Finland. It is 12% more
strong position in Czechia and swiftly Amber Grid, part of EPSO-G Group, made a than in 2019, when 29.5 TWh natural gas
developing its activities in Slovakia. net profit of €18.1mn on revenues of €52.3mn was transported into Lithuania.
“Despite the pandemic, we have made in 2020, the company announced on February In 2020, 65% of the total imported gas
tremendous progress in retail. In the Czech 4. quantity for Lithuanian and other Baltic
Republic, we cemented Benzina Orlen’s Although the natural gas transmission consumers was released from Klaipėda
share in the volume of fuels sold and we prices last year were lower by 16% on LNG terminal into the Lithuanian gas
were also rapidly growing on the Slovak average, the company’s revenues from the transmission system. Gas transported
market,” said Chief Executive Officer of the provided services dropped by only 5% y/y. through Lithuania to Kaliningrad District
Orlen Unipetrol Group Tomasz Wiatrak. The positive impact on the earnings was amounted to 24.9 TWh, i.e., 4.2% smaller
“The refining and petrochemical made by significantly growing volumes of than in 2019..
business is going through a global gas transported in the Latvian direction

Week 06 11•February•2021 www. NEWSBASE .com P17