Baltic States – CIS, Energy, Estonia, Investments

The minister expressed surprise over the claims from Reform Party’s MPs as if questions regarding the IPO have been left unanswered. “Estonia’s energy sector development plans and the IPO are linked to two strategic objectives: firstly, we need to ensure Estonia with a stable electricity supply and secondly find jobs for thousands of people,” explained Parts. He claimed that establishing new electricity blocks and oil plans would fulfil these objectives as well as guarantee the option for exporting Estonia’s own technology.

While the biggest coalition party members have voiced opinions that in a couple of years, the IPO might be more successful, Parts questioned such a strategy. “If Russia’s plans to establish major energy production capacities to this region (the Baltic nuclear power plant in the Kaliningrad oblast and the new blocks of the Leningrad nuclear power plant – ed.) will become a reality, availability of investments into the other projects in the field of energy will become very difficult and even questionable,” he explained, noting that investments must be made right now in order to protect Estonia’s strategic interests and energy independence.

When asked, whether the European Commission would allow granting State aid to build new oil shale blocks in Narva, Parts estimated that it would not be a problem, although it might take time to get an approval. He pointed out that other countries, including Latvia, have been granted permissions to grant State aid in burning fossil fuels.