Eesti Energia
Encyclopedia
Eesti Energia AS is a state-owned energy company in Estonia
with its headquarters in Tallinn
. The company operates in Estonia, Latvia, Lithuania, Finland and Jordan. In Estonia the company operates under the name Eesti Energia, while using the brand name Enefit for international operations. The main raw material for energy production – oil shale – is extracted from mines owned by the company.
The government considered the initial public offering
of shares of the company.
and shale oil
) and provides customer and consulting services.
ing technology; the construction is slated to begin by 2015.
On 30 April 2008, Eesti Energia signed an agreement with the Ministry of Energy and Mineral Resources of Jordan and the National Electricity Power Company of Jordan to develop the construction of an oil shale-fired power station with capacity of 600–900 MW in the country. The power station is expected to be operational by 2015.
In Lithuania Eesti Energia is negotiating its participation in the Visaginas Nuclear Power Plant
project.
Estonia
Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
with its headquarters in Tallinn
Tallinn
Tallinn is the capital and largest city of Estonia. It occupies an area of with a population of 414,940. It is situated on the northern coast of the country, on the banks of the Gulf of Finland, south of Helsinki, east of Stockholm and west of Saint Petersburg. Tallinn's Old Town is in the list...
. The company operates in Estonia, Latvia, Lithuania, Finland and Jordan. In Estonia the company operates under the name Eesti Energia, while using the brand name Enefit for international operations. The main raw material for energy production – oil shale – is extracted from mines owned by the company.
The government considered the initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
of shares of the company.
History
Eesti Energia was founded in 1939.Operations
Eesti Energia produces and sells electricity, heat and fuel (oil shaleOil shale
Oil shale, an organic-rich fine-grained sedimentary rock, contains significant amounts of kerogen from which liquid hydrocarbons called shale oil can be produced...
and shale oil
Shale oil
Shale oil, known also as kerogen oil or oil-shale oil, is an unconventional oil produced from oil shale by pyrolysis, hydrogenation, or thermal dissolution. These processes convert the organic matter within the rock into synthetic oil and gas...
) and provides customer and consulting services.
International activities
On 5 November 2006, Eesti Energia signed a memorandum of understanding with the government of Jordan being awarded with the exclusive right to study about one third of the resources of the El Lajjun oil shale deposit. Later this right was transferred to cover the Attarat Umm Ghudran oil shale deposit as the shallow aquifer that underlies the El Lajjun deposit provides fresh water to Amman and other municipalities in central Jordan. On 29 April 2008, Eesti Energia present a feasibility study to the Government of Jordan. According to the feasibility study, the company will establish a shale oil plant with capacity of 36,000 barrels per day. The shale oil plant will use a Galoter processGaloter process
The Galoter process is a shale oil extraction technology for a production of shale oil, a type of synthetic crude oil. In this process, the oil shale is decomposed into shale oil, oil shale gas, and spent residue...
ing technology; the construction is slated to begin by 2015.
On 30 April 2008, Eesti Energia signed an agreement with the Ministry of Energy and Mineral Resources of Jordan and the National Electricity Power Company of Jordan to develop the construction of an oil shale-fired power station with capacity of 600–900 MW in the country. The power station is expected to be operational by 2015.
In Lithuania Eesti Energia is negotiating its participation in the Visaginas Nuclear Power Plant
Visaginas nuclear power plant
Visaginas nuclear power plant is a planned nuclear power plant project in Lithuania. It is proposed to be built at the site of the closed Ignalina Nuclear Power Plant which was shut-down on 31 December 2009 in accordance with Lithuania's accession agreement to the European Union...
project.
Subsidiaries
Eesti Energia has following subsidiaries:- AS Eesti Energia Narva Elektrijaamad (Narva Power Plants)Narva Power PlantsThe Narva Power Plants are a power generation complex in Narva in Estonia, near the border with Leningrad Oblast, Russia. The complex consists of the world's two largest oil shale-fired thermal power plants, Eesti Power Plant and Balti Power Plant . In 2007, Narva Power Plants generated about...
. The company generates 95% of electricity produced in Estonia, and furnishes the city of Narva with heat. The company is also engaged in sales of fly ashFly ashFly ash is one of the residues generated in combustion, and comprises the fine particles that rise with the flue gases. Ash which does not rise is termed bottom ash. In an industrial context, fly ash usually refers to ash produced during combustion of coal...
, which can be used in agriculture and production of construction materials.
- AS Eesti Energia Kaevandused (100%) – a oil-shale mining company engaged in the extraction and sale of oil shale. The company supplies Eesti Energia's Narva Power Plants and other customers with fuel (oil shale). Eesti Energia Kaevandused consists of two mines, two quarries and a railway transport unit.
- OÜ Eesti Energia Jaotusvõrk (100%) – a distribution network operator.
- AS Eesti Energia Õlitööstus (100%) – an operator of the Narva Oil PlantNarva Oil PlantNarva Oil Plant , a subsidiary of Eesti Energia, is a producer of shale oil from oil shale. It operates a commercial scale shale oil retorting plant, located in Narva, Estonia.-History:...
- Televõrgu AS (100%) – a telecommunications network company
- AS Eesti Energia TehnoloogiatööstusEesti Energia TehnoloogiatööstusEesti Energia Tehnoloogiatööstus AS , internationally operating under the trademark Enefit, is a company in Estonia which designs and manufactures equipment in the fields of energy and industry and offers erection and maintenance services as well as comprehensive technological solutions.Eesti Energia...
(100%) – manufacturer of energy and industrial equipment, maintenance and supply services. - AS Eesti Energia Võrguehitus (100%) – network construction, planning and consulting on electrical systems.
- Enefit Outotec Technology (60%) – a joint venture with OutotecOutotecOutotec Oyj is a Finnish company, headquartered in Espoo, aimed at providing technologies and services for the metal and mineral processing industries...
for developing shale oil extraction technology - Iru Elektrijaam (100%) – Iru Power Plant, heat and power company.
- AS Nordic Energy Link (39.9%) – operator of EstlinkEstlinkEstlink is a set of HVDC submarine cables between Estonia and Finland. Estlink 1 is the first interconnection between the Baltic and Nordic electricity markets following by Estlink 2 in 2014...
submarine power cable between EstoniaEstoniaEstonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
and FinlandFinlandFinland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
. - SIA Enefit (100%, LatviaLatviaLatvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...
) – a subsidiary supplying electricity and offering balance provider services in Latvia. - UAB Enefit (100%, LithuaniaLithuaniaLithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
) – a subsidiary supplying electricity in Lithuania. - Solidus Oy (100%, FinlandFinlandFinland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
) – a clearing representative of Nord Pool SpotNord Pool SpotNord Pool Spot runs the largest market for electrical energy in the world, measured in volume traded and in market share. It operates in Norway, Denmark, Sweden, Finland, and Estonia. More than 70% of the total consumption of electrical energy in the Nordic market is traded through Nord Pool...
, provider of electricity portfolio management. - Oil Shale Energy of Jordan (76%, JordanJordanJordan , officially the Hashemite Kingdom of Jordan , Al-Mamlaka al-Urduniyya al-Hashemiyya) is a kingdom on the East Bank of the River Jordan. The country borders Saudi Arabia to the east and south-east, Iraq to the north-east, Syria to the north and the West Bank and Israel to the west, sharing...
) - Enefit American Oil (former name: Oil Shale Exploration Company, 100%, United States)