Vilnius, November 6 (ELTA) – Amber Grid, Lithuania’s natural gas transmission system operator, reported a net profit of EUR 20 million in the first nine months of 2026, more than 13 times its profit of EUR 1.5 million in the same period of 2025.

The company’s revenue increased by 30% to EUR 64.2 million in the nine-month period. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose almost 2.5-fold to EUR 36.6 million, according to an Amber Grid announcement.

“The financial results were mainly driven by an increase in the volume of natural gas transported and higher regulated transmission tariffs set for 2026. Demand for gas used for balancing and technological purposes also decreased significantly,” Amber Grid CEO Nemunas Biknius said.

The company added that adjusted EBITDA, excluding temporary regulatory differences and one-off factors, increased by 8% to EUR 24.6 million, while adjusted net profit rose by 4% to EUR 9.7 million.

More than 12.9 terawatt-hours (TWh) of natural gas was transported to Lithuanian consumers in the first nine months of this year, up 17% from last year.

More than 25.4 TWh of gas was injected into the system from the Klaipėda liquefied natural gas (LNG) terminal, an increase of 18% year on year.

Vilnius, November 6 (ELTA) – Lithuanian electricity transmission system operator Litgrid reported a net profit of EUR 35.8 million in the first nine months of this year, compared with a net loss of EUR 35.2 million in the same period last year, the company said.

According to unaudited data, Litgrid’s revenue totalled EUR 374.3 million in January–September, up 23% from the same period last year.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 52.2 million, compared with a negative EBITDA of EUR 26.4 million in the same period last year. Litgrid said the improvement in EBITDA was mainly driven by a positive result from ancillary services.

Adjusted EBITDA increased by 16%, from EUR 39.2 million to EUR 45.4 million, while adjusted net profit rose by 52% to EUR 30.2 million.

Litgrid’s investments totalled EUR 106.2 million in the first nine months of this year.

The company also said it connected eight new energy storage parks to the electricity transmission grid in August and September, with a combined installed capacity of 392 megawatts (MW).

Following these connections, the total capacity of battery energy storage systems operating in Lithuania exceeded 1.3 gigawatts (GW), while their energy storage capacity reached 2.5 gigawatt-hours (GWh).

According to Litgrid, up to 20 more battery projects are expected to be connected to the transmission grid by the end of the year. Once completed, the total capacity of energy storage systems in Lithuania would exceed 2 GW, while their storage capacity would surpass 4 GWh.

In the first nine months of this year, more than 6.5 terawatt-hours (TWh) of electricity was transmitted through Lithuania’s transmission grid to meet domestic demand, 2% more than in the same period last year.

Litgrid is also continuing work on the Harmony Link electricity interconnection with Poland, the reconstruction of the Gižai transformer substation and preparations for a new 330-kilovolt (kV) electricity transmission line between Lithuania and Latvia.

Vilnius, November 6 (ELTA) – The Bank of Lithuania says an EU excessive deficit procedure could be launched against Lithuania in 2027 due to the growing budget deficit. In the central bank’s assessment, this could increase government borrowing costs and accelerate debt growth.

“Our preliminary assessment is that an excessive deficit procedure will be launched against Lithuania in 2027. This could lead to higher interest rates, increase our borrowing costs and, if all other conditions do not change, even accelerate debt growth further,” Vaidotas Tuzikas, an economist at the Bank of Lithuania’s Economics Department, said at a meeting of the Seimas Committee on Economics and Innovation on Friday.

According to him, the central bank was particularly concerned about the significant increase in the deficit envisaged in the 2027–2029 draft budget and the possible long-term consequences of such fiscal policy.

Tuzikas noted that the Bank of Lithuania would publish its detailed assessment of the 2027–2029 draft budget on Monday.

As ELTA reported, the National Audit Office warned in its assessment of the 2027–2029 draft budget, issued on Friday, that the general government deficit could grow faster than projected by the Government and approach 6% of gross domestic product (GDP) in 2029.

In the National Audit Office’s assessment, the draft budget does not include some expected expenditure, while projected revenue could be lower than envisaged. Public debt could also approach the 60% of GDP threshold in 2029 and exceed it in 2030.

The auditors also concluded that the draft budget does not comply with fiscal discipline rules, meaning the Government should revise it or justify the deviation from these requirements and present a plan for reducing the deficit.

Under the draft budget currently being considered by the Seimas, the state budget deficit for 2027 is projected at 3.8% of GDP, or 4.8% of GDP excluding the EU escape clause for defence spending, while public debt is projected at 48.2% of GDP.

The Maastricht criteria set limits of 3% of GDP for the general government deficit and 60% of GDP for public debt.

/Sixth paragraph updated. Pangonis was barred from holding managerial positions for 3 years, not 2/

Vilnius, November 6 (ELTA) – The Šiauliai Regional Court on Friday found Gintautas Pangonis, president of the Grigeo group, guilty in the criminal case against Grigeo Klaipėda over pollution of the Curonian Lagoon.

He was fined EUR 120,000.

Grigeo Klaipėda was also found guilty and fined EUR 2 million.

The state prosecutor had asked the court to find Pangonis guilty of environmental offences, document forgery, abuse of office and leading an organised group. He was convicted on only some of the charges.

In addition to the requested fine, the prosecutor had proposed barring Pangonis from holding managerial positions for four years.

The court barred Pangonis from holding managerial positions for three years.

The ruling is not final and may be appealed.

Charges were brought against 14 individuals and one legal entity, Grigeo Klaipėda.

The pre-trial investigation was launched amid suspicions that untreated industrial wastewater was being discharged into the Curonian Lagoon and that Grigeo Klaipėda documents relating to wastewater management might have been falsified.

Former company executives directly responsible for wastewater treatment and the modernisation of treatment facilities admitted to their long-running illegal activities and were exempted from liability in the case by a decision of the prosecutor’s office.

The Environmental Protection Department assessed the financial damage caused to the environment in the case and filed a civil claim against Grigeo Klaipėda for more than EUR 48 million.

Grigeo Klaipėda has accepted responsibility for the pollutants discharged and pledged to remove from the Curonian Lagoon all pollutants attributed to the company.

The pre-trial investigation was completed in August 2021, and the criminal case was referred to court in January 2022.

Grigeo Klaipėda, which was found guilty in the Curonian Lagoon pollution case, says it will appeal the ruling.

“We respect the decision of the court of first instance, but it does not bring us any closer to our main goal – restoring the environment to its original condition. We will therefore appeal the ruling to the Court of Appeal of Lithuania and ask for the principles of liability for environmental damage enshrined in EU law to be applied,” the company said in a comment to ELTA.

In the company’s assessment, a fundamental question has yet to be properly answered: what was the actual impact on the Curonian Lagoon and the Klaipėda Strait?

Vilnius, November 6 (ELTA) – From 3 to 7 November, a delegation of Ukrainian non-governmental organisations (NGOs) is visiting Lithuania. The visit is organised at the initiative of the Ministry of Foreign Affairs, the Lithuanian Centre for International Partnerships and the National Platform of Development Cooperation NGOs, building on the cooperation launched during a mission by Lithuanian NGOs to Ukraine last spring, the Foreign Ministry reports.

The study visit brings together representatives of 15 Ukrainian organisations working in the fields of child and human rights protection, social services, rehabilitation and psychological support for veterans, women’s empowerment, humanitarian assistance, inclusion of people with disabilities, community recovery and strengthening civil society. The aim of the visit is to develop long-term partnerships between Lithuanian and Ukrainian civil society organisations and create opportunities for practical cooperation, particularly in developing and implementing projects funded by the European Union and other donors.

During a meeting at the Ministry of Foreign Affairs, Deputy Minister Lina Rukštelienė presented Lithuania’s development cooperation model, which is based on partnerships between equals, and emphasised the importance of long-term cooperation.

“Partnerships are at the heart of our development cooperation. Visits such as this not only enable us to better understand the needs of Ukrainian civil society, but also help us build lasting relationships, learn from one another and launch joint projects. Lithuania has consistently supported and will continue to support Ukraine’s efforts to integrate into the European Union and will provide the assistance it needs,” the deputy minister said.

The programme includes a joint session involving the Lithuanian NGO Council and Ukrainian organisations, networking events and bilateral meetings with Lithuanian organisations. On 6 November, representatives of the Ukrainian delegation will also take part in the Lithuanian International Partnerships Conference.

The visit by representatives of Ukrainian NGOs marks an important step in strengthening civil society ties between the two countries. The contacts established during the visit are expected to develop into concrete joint initiatives, enabling organisations to share experience, pool resources and contribute together to the resilience and recovery of Ukrainian society.

Vilnius, November 6 (ELTA) – On Friday, President Gitanas Nausėda congratulated Lithuanian diplomats on the occasion of their professional holiday, Diplomat’s Day, the presidency said.

In his message to the diplomatic community, the president emphasized the vital role diplomats play in achieving Lithuania’s foreign policy goals, strengthening the country’s position within NATO and the European Union, and mobilizing international support for Ukraine.

“The achievement of Lithuania’s key foreign policy goals depends directly on you, dear Lithuanian diplomats. Your efforts determine how successfully we strengthen transatlantic ties and Lithuania’s position within NATO and the European Union, as well as mobilize support for Ukraine,” said the president.

According to Gitanas Nausėda, Lithuanian diplomats play a crucial role in advancing economic diplomacy, forging strategic partnerships, opening new opportunities for Lithuanian science and culture, and assisting Lithuanian citizens who find themselves in difficult situations abroad.

The president also highlighted Lithuania’s upcoming Presidency of the Council of the European Union, which will provide a unique opportunity not only to showcase Lithuania and strengthen its international influence, but also to help shape the European political agenda.

“Over the next six months, we will have a unique opportunity not only to showcase Lithuania and strengthen its international influence, but also to help shape the European political agenda. We will bear the responsibility of ensuring that the European Union responds appropriately to the complex geopolitical reality and moves forward swiftly,” the head of state pointed out.

The president stressed that, in light of today’s geopolitical challenges, it is particularly important to strengthen Europe’s resilience, security, and competitiveness. He noted that Lithuanian diplomats have the important task of bringing together like-minded partners and helping Europe properly assess emerging threats.

The head of state thanked diplomats for their long-standing, professional, and responsible work in defending Lithuania’s interests on the international stage. He also called on them to continue joining forces in pursuit of a common goal: a safer, stronger Lithuania that looks boldly towards the future.

Vilnius, November 6 (ELTA) – In September 2026, compared with August 2026, the seasonally adjusted retail trade volume decreased by 0.7% in the euro area and by 0.6% in the EU, according to first estimates from Eurostat, the statistical office of the European Union.

In September 2026, compared with September 2025, the calendar adjusted retail sales index increased by 0.4% in the euro area and by 0.9% in the EU.

In the euro area in September 2026, compared with August 2026, the volume of retail trade decreased for food, drinks, tobacco by 0.3%, decreased for non-food products (except automotive fuel) by 1.2%, increased for automotive fuel in specialised stores by 1.0%.

In the EU, the volume of retail trade decreased for food, drinks, tobacco by 0.4%, decreased for non-food products (except automotive fuel) by 1.0%, increased for automotive fuel in specialised stores by 0.1%.

Among Member States for which data are available, the largest monthly decreases in the total retail trade volume were recorded in Germany (-2.0%), Romania (-1.3%) and Portugal (-0.9%). The highest increases were observed in Luxembourg (+5.3%), Slovakia (+2.2%) and Malta (+1.5%).

In September 2026, compared with August 2026, the total retail trade volume in Lithuania increased by 0.4%, in Latvia it increased by 0.7% and in Estonia by 0.1%.

In the euro area in September 2026, compared with September 2025, the volume of retail trade increased for food, drinks, tobacco by 1.1%, increased for non-food products (except automotive fuel) by 0.7%, decreased for automotive fuel in specialised stores by 3.0%.

In the EU, the volume of retail trade increased for food, drinks, tobacco by 1.0%, increased for non-food products (except automotive fuel) by 1.2%, decreased for automotive fuel in specialised stores by 2.3%.

Among Member States for which data are available, the highest annual increases in the total retail trade volume were recorded in Cyprus (+7.6%), Sweden (+6.9%) and Bulgaria (+5.7%). The largest decreases were observed in Germany (-2.4%), Romania (-2.3%) and Spain (-1.5%).

In September 2026, compared with September 2025, the total retail trade volume in Lithuania increased by 5.6%, in Latvia it increased by 4.6% and in Estonia by 4.0%.

Vilnius, November 6 (ELTA) – Ignalina Nuclear Power Plant, operating under the Altra name, continues preparations for one of its most complex decommissioning projects: the dismantling of the steam drum separators and associated systems. Last week, a material handling machine specially modified for this work was tested at the Sennebogen factory in Germany. The machine will be used to lift robotic equipment into hard-to-reach work areas, Altra said in a press release.

During decommissioning, some work has to be carried out in areas where workers’ time must be limited due to ionising radiation, or where it is unsafe for personnel to enter. Robotics and remotely operated solutions are therefore becoming an increasingly important part of Altra’s projects. 

During the factory acceptance tests, the machine was tested under different operating conditions, with its main functions and readiness for the planned tasks at Ignalina Nuclear Power Plant assessed. Weighing around 40 tonnes, the machine will be capable of performing various operations at heights of almost 20 metres. 

One of its main tasks will be to lift a remotely operated BROKK robot into positions from which the steam drum separators and associated structures can be dismantled. This will allow robotic equipment to reach structures located at significant heights while reducing the need for workers to operate directly in radiologically challenging areas. 

The new equipment is expected to arrive at Ignalina Nuclear Power Plant at the end of November. Once the steam drum separator dismantling project has been completed, the machine is also expected to be used for other work at the plant. 

Preparing for a project of exceptional scale 

The dismantling of the steam drum separators is considered one of the most technically challenging tasks in the decommissioning of Ignalina Nuclear Power Plant. Eight such units are installed across the two reactor units. Each is almost 30 metres long, nearly 3 metres in diameter and weighs up to 300 tonnes.

Together with pipelines and other associated equipment, the total mass of structures planned for dismantling is around 6,000 tonnes. Due to the size and location of the structures, as well as the radiological conditions, some operations are planned to be carried out remotely. 

“When dealing with structures of this size and complexity, every opportunity to reduce the need for people to work directly in hazardous or hard-to-reach environments is extremely important. The new equipment will allow us to position the BROKK robot closer to the structures being dismantled and will help us carry out the work more safely and precisely,” says Vytautas Keršiulis, Altra’s Head of Dismantling and Demolition Projects. 

BROKK 300 and BROKK 200 robots, as well as plasma cutting equipment, have already been tested for the steam drum separator dismantling project. During the tests, part of the future working environment was recreated to reflect the actual conditions of the structures to be dismantled. Remotely operated technologies are already being used in practice in Altra’s projects rather than being considered merely a future possibility. 

Technology reduces the need for people to work in challenging areas 

Remotely operated and robotic equipment can perform mechanical tasks, collect radiological data, scan the environment and help plan future operations more accurately. Its use reduces the need for workers to operate directly in challenging areas and provides more data to support decision-making. 

A range of robotics, remote operation, environmental scanning and radiological data collection solutions are already being tested and used at Ignalina Nuclear Power Plant. In this way, the former Lithuanian nuclear power plant is becoming not only the site of one of Europe’s largest nuclear decommissioning projects, but also a real-world testing ground for technologies that could be used at other nuclear facilities in the future.

To date, 83,504 tonnes of equipment and structures have been dismantled at Ignalina Nuclear Power Plant. This represents 46.4% of the total amount planned for dismantling.

Vilnius, November 6 (ELTA) – The National Audit Office, having issued its assessment of next year’s draft budget, says the general government deficit could grow considerably faster than currently projected by the Government and approach 6% of gross domestic product (GDP) in 2029.

The assessment says the next year’s plan does not include expected expenditure on railway infrastructure, support for Ukraine and other items, while revenue projects additional EUR 197 million from improvements in tax administration.

In the National Audit Office’s assessment, the impact of this measure is highly uncertain and it should therefore not be included in the projections.

“Our projections indicate greater pressure on public finances than envisaged in the draft budget. The problem is not limited to new decisions to increase spending – some government commitments already exist, but their impact on future budgets is not adequately reflected,” said Jurga Rukšėnaitė, head of the National Audit Office’s Fiscal Monitoring Centre.

The auditors project a deficit of 5% of GDP next year and 5.8% and 5.9% of GDP in 2028 and 2029, respectively.

The draft budget currently being considered by the Seimas puts the state budget deficit for 2027 at 3.8% of GDP, or 4.8% of GDP excluding the EU escape clause for defence spending, while public debt is projected at 48.2% of GDP.

The Maastricht criteria set limits of 3% of GDP for the general government deficit and 60% of GDP for public debt.

According to the Finance Ministry, its deficit projections differ from those of the National Audit Office because they are based on different assumptions.

The ministry nevertheless says that ways must be found to ensure a more sustainable balance between budget revenue and expenditure. Tax changes are being considered for this purpose, including a higher sugar tax and increased taxation of gambling. The use of state assets and the activities of certain institutions are also due to be reviewed.

The National Audit Office, which projects a higher deficit, says public debt will grow faster than envisaged in the draft budget and approach 60% of GDP in 2029, the European threshold set by the Maastricht criteria.

This threshold could be exceeded as early as 2030, while debt-servicing costs are expected to rise. Interest payments could increase from approximately EUR 1 billion this year to EUR 2.1 billion in 2029.

This means that an increasingly large share of the budget will have to be allocated not to public services or investment but to servicing debt incurred in the past.

Vilnius, November 6 (ELTA) – Moldova’s largest commercial bank, maib – partly owned by the leading Baltic asset management group Invalda INVL – posted an unaudited net profit of 1.65 billion Moldovan lei (MDL) for January–September 2026, equivalent to EUR 81.8 million, representing a 19.6% increase compared with the same period last year, reports Invalda INVL.

“Despite rising inflation in Moldova and a 4 percentage point increase in the base rate since the start of the year, maib earned almost a fifth more in the first nine months than a year earlier. The third quarter was the most profitable of the year so far. With a capital adequacy ratio of 22.8%, the bank has a solid buffer to keep financing the Moldovan economy and to adapt to the higher tax burden on banks next year,” says Vytautas Plunksnis, Chairman of maib’s Supervisory Board and Head of Private Equity at INVL Asset Management.

Net interest income for January–September amounted to MDL 2.6 billion (EUR 129.1 million), up 16.7% year-on-year. Net fee and commission income fell by 3.3% to MDL 385.7 million (EUR 19.2 million), while net foreign exchange gains rose by 6.5% to MDL 629 million (EUR 31,3 mln.).

At the end of September, maib’s gross loan portfolio stood at MDL 45.3 billion (EUR 2.2 billion), 23.7% higher than a year earlier. Loans to corporate clients grew by 18%, loans to SMEs by 20.2%, and retail loans by 30.1%.

Customer deposits totaled MDL 55.8 billion (EUR 2.8 billion) at the end of September, up 14.4% year-on-year, with corporate deposits rising 1.5%, SME deposits 6.9%, and retail deposits 21.1%.

Return on equity (ROE) for the first nine months was 21.8%, unchanged from a year earlier. As of 30 September 2026, maib’s total assets amounted to MDL 74.7 billion (EUR 3.7 billion), up 16.6% year-on-year. The bank’s capital adequacy ratio stood at 22.8%, while the liquidity coverage ratio (LCR) was 346.9%.

In July, maib was named Best Bank and Best Retail Bank in Moldova at the Euromoney Awards for Excellence 2026.

In 2025, maib earned an audited net profit of MDL 1.99 billion (EUR 101.8 million), up 41% on 2024.