Shipping line Tallink has leased its Victoria I cruise vessel to the Scottish government. The ship will be used for temporary accommodation. The lease, concluded with a company representing the Government of Scotland runs for six months, starting on July 8, with an option for a three-month extension, Tallink says. The MS Victoria I has…
According to data provided by Statistics Estonia, in May the total production of industrial enterprises increased by 4.8% at constant prices in comparison to May 2021. Output increased in all three industrial sectors, with manufacturing growing by 2.2%, electricity production by 34.2% and a 25.5% rise in mining. Helle Bunder, analyst at Statistics Estonia, said…
Estonia and Latvia are jointly to procure mid-range air defense systems following an agreement at the NATO Madrid Summit. Defense minister Kalle Laanet (Reform) and his Latvian counterpart Artis Pabriks signed a letter of intent while in the Spanish capital, which would create a legal framework for the systems’ joint procurement. Laanet said: “The NATO…
The largest industries in Estonia, which also happen to be the country’s largest energy consumers, are seeking to reduce costs in the face of record high energy prices, realizing that the power market does not support consumers during energy shortages. Even before the energy crisis, Estonian Cell, one of the country’s largest energy consumers and…
A third subsea cable will be built between Estonia and Finland to secure the supply of the Baltic Sea region’s electricity market, grid operators Fingrid and Elering announce. The pair signed a letter of intent and would now begin planning the construction of the connection. EstLink 3 will have an estimated capacity of between 700…
Estonian experts do not expect the price of gas to fall in the coming months and see no reason for it to do so until the end of the year. Currently, there is a shortage across Europe. The price of natural gas has risen to EUR 130 per megawatt-hour. In April, it was EUR 100…
Estonian businesses, which depend on goods and raw materials imported from Russia and Belarus, need to understand the risks and find new suppliers, a report by the Riigikogu’s Foresight Center shows. If these imports completely stop it will cost businesses EUR 860 million. The center has been studying the risks posed to Estonia since the…