RIGA - The contract confirming the participation of Latvenergo in the Estlink underwater cable project has disappeared.
Latvenergo spokesman Andris Siksnis was quoted as saying, "The contract has simply disappeared and is being sought currently." He noted that the document has been missing for "some time."
Siksnis explained that each participant of the project, which will link the energy networks of the Baltic and Nordic states, needs its own copy of the contract, otherwise implementation can not proceed.
Next week Latvenergo's council will consider this case and decide on further steps, as the company's council can not assess its own performance, Siksnis said. He also pointed out that it is difficult to say for now whether Latvenergo would face any financial sanctions, because "everything depends on the partners of the project."
Five energy companies have agreed on developing the Estlink underwater cable project to link the Baltic and Nordic power systems. The project involves energy companies from the Baltic states as well as two Finnish power companies.