Company briefs

  • 2013-11-27

The European Commission (EC) will distribute 448 million euros as aid for the construction of the Liquid Natural Gas (LNG) terminal in Lithuania, reports ELTA. According to the EC, the aid for the construction and the exploitation of the LNG terminal in Klaipeda Seaport met the requirements of the EU State Aid. The project is aimed at the development of the safe gas supply in Lithuania incorporating the new supply resources. As soon as the LNG terminal is built, the country will be able to integrate into the EU gas market. “Due to this aid, Lithuania’s dependence on an only gas supplier [Gazprom] will be reduced,” said Deputy President of the European Commission Joaquin Almunia.

Poland’s biggest insurance company PZU, which on Nov. 22 announced officially its arrival in the Estonian insurance market, aims to become one of the three biggest insurance companies in Estonia, reports Postimees Online. “This could take 3-4 years,” said PZU Lietuva manager Marius Jundulas. The Estonian office of PZU is a branch office of the Lithuanian subsidiary of PZU. “We plan to achieve very fast growth in insurance payments, preserving sustainable gross compensation ratios,” said PZU CEO Andrzej Klesyk. “This also means that we plan to grow to be a leading service provider in partner channels, like in travel insurance,” he said, adding that the fast growth in the corporate client segment achieved in Lithuania will be the cornerstone of success of PZU in Estonia too.

According to the Estonian Competition Board, Estonian mobile phone operators EMT and Tele2 lost clients while Elisa gained clients in the third quarter of this year, reports Public Broadcasting. According to the Competition Board, Elisa’s customer base grew in the quarter by 10,100 clients while the number of clients of EMT fell by nearly 27,100, and Tele2 by 24,400. Elisa said that the increase in the number of contractual clients brought growth. The pre-paid call card customer base fell for all operators.