
EEX to replace GET Baltic as gas exchange operator in Lithuania
NERC approved EEX to operate as an exchange operator in Lithuania last week, according to the Baltic News Service (BNS).
"EEX replacing GET Baltic will broaden the range of market participants and the new products will enhance liquidity, price transparency and predictability in all countries," Karolis Janusevicius, a member of NERC, said in a statement.
Amber Grid, Lithuania's gas transmission system operator, sold a 66 percent stake in its subsidiary GET Baltic to the EEX exchange for 6.5 million euros (7.64 million U.S. dollars) in 2023.
Until now, gas in the Baltic states and Finland has been traded via GET Baltic, with 66 percent owned by EEX and the remaining 34 percent held by Amber Grid. (1 euro = 1.18 U.S. dollar)

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The Star
17-07-2025
- The Star
Underground bunkers are booming again in Europe
Russia's full-scale invasion of Ukraine and a recent nationwide blackout affecting Spain and Portugal have shaken people's sense of security in Europe. For decades, bunkers were largely ignored – but now, interest is surging, particularly among private citizens, according to companies that specialise in building or restoring shelters. In Spain, for example, the private construction of bunkers has increased by 200% since Moscow launched its war in early 2022, industry companies report. Countries like Germany, France and the Baltic states are reportedly among the most advanced in their preparedness. Boom in demand Companies specialising in the construction of private shelters or the reactivation of old bunkers in Germany are seeing an increase in demand. At Bunker Schutzraum Systeme Deutschland (BSSD), an employee describes an 'exponential' increase in inquiries since 2014 – a trend that accelerated again in 2022 following the war in Ukraine, though still on a relatively modest scale. The clientele is made up entirely of private individuals. 'Nothing is being done by the government,' says Mario Piejde, the company's technical director and spokesperson. 'People are slowly waking up and taking matters into their own hands – not just because of the fear of war, but also concerns about power outages or civil unrest.' According to BSSD, 80% of current projects involve refurbishing older, privately owned bunkers, while 20% consist of converting basements in new residential buildings into protective shelters. At another firm, the Deutsches Schutzraum-Zentrum (DSZ), the trend skews in the opposite direction. Owner Peter Aurnhammer reports that 80% of their work involves new builds, where part of the basement is specifically designed as a secure shelter. Interest is growing across all demographics, he adds. 'We see demand from all corners of society – tradespeople, doctors, politicians, business owners and families planning new homes with integrated shelter space.' Music, art and carnival Today, the high-rise bunkers in Frankfurt are mainly used for civilian purposes – even if they are not as spectacular as the St Pauli bunker in Hamburg, a massive World War II shelter turned plant-covered hotel and tourist magnet. Some are used as rehearsal rooms for musicians or studios for artists. Others became clubhouses, youth centres or carnival clubs. Companies that already existed during World War II still have bunkers from this period – one example can be found on the site of an industrial company in Frankfurt's Ostend district. The operators do not want the exact location to be publicised for fear of uninvited visitors. Today, the rooms are used as storage space or are empty. Squeaky iron doors located 12m below an industrial plant near Frankfurt. — BORIS ROESSLER/dpa Secret cellar From the outside, only the worn inscription 'luftschutzraum' (air-raid shelter) on a cellar grating indicates the existence of the facility. The path leads through a security door that can only be opened with a coded key card. Past clattering machines and the grinding noises of a conveyor belt, worn concrete steps lead into a labyrinth of corridors and windowless rooms that are not accessible to the public. An arched iron door squeaks open 12m underground. In the light of a torch, the words 'shelter for 45 people' written in German can be seen in Gothic script on the weathered paintwork of the door. The room is completely empty – but during the heavy airstrikes on Frankfurt in 1943 and 1944, dozens of people were crammed into a very small space. A few metres further on, the door to the former 'command post' stands ajar. Apart from a few coat hooks, there are no longer any personal belongings or parts of the interior fittings of the time. The existence of separate toilets and showers for men and women suggests that stays could last several days. Non-contemporary approach According to the Federal Office of Civil Protection and Disaster Assistance (BBK), Germany currently still maintains 579 public shelters with a total capacity of around 478,000 people. However, in 2006, the government decided to gradually decommission shelters and repurpose them for other uses. As a result, the nationwide provision of public shelters for defence purposes is no longer included in Germany's current civil defence strategy. The BBK emphasises that times have changed: 'For a long time, the construction and maintenance of public shelters was seen by the public as a central civil defence measure,' said a spokeswoman. However, even during the Cold War, a maximum of 2% of the population could have found refuge in public shelters. The threat scenarios then and now are not comparable, she added. 'Against this background, new ways of protecting the population must also be pursued. A nationwide construction of shelters is therefore not a modern approach to ensure effective protection of the population.' Stocking up Russia's invasion of Ukraine has brought new challenges for civil defence across Europe, according to Roman Poseck, interior minister of the German state of Hesse. He emphasises that citizens can help bolster societal resilience by maintaining basic emergency supplies – such as food, water, a flashlight, spare batteries and a battery-powered radio. 'The security situation has fundamentally changed for all European countries.' – dpa


The Star
15-07-2025
- The Star
ECB supervisors focus on risks from tariffs to cyber attacks, central bank sources say
FILE PHOTO: A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo FRANKFURT/MADRID (Reuters) -European Central Bank supervisors are focusing on issues ranging from tariffs to cyber attacks and a possible dollar shortage as they assess potential risks to the region's banking industry, five senior central bank officials told Reuters. The ECB is looking into these risks amidst a global trade war and conflicts, such as the war in Ukraine. Chief ECB supervisor Claudia Buch said on Tuesday the central bank would test banks' resilience to geopolitical risk next year, telling them to come up with scenarios that had the potential to wipe out large chunks of their capital. In addition to this, ECB supervisors have been incorporating these risks into their regular checks for months, the sources, who asked to remain anonymous as details of the ECB's supervisory work are confidential, said. Banks have been told to watch their exposure to other countries, both via operations abroad and through credit to exporters, supervisors have told Reuters. Cyber attacks are also seen as a risk, particularly in Baltic countries, which have previously been the targets of Russian hackers, the sources said. The ECB has also told banks to prepare for a global dollar drought, for example if the Federal Reserve withdraws its lifelines, as Reuters reported earlier this year Supervisors are not telling banks to cut their exposures and they are not making specific recommendations at this stage, but rather urging banks to tighten their controls and think about contingency plans. The checks are taking place as part of the ECB's annual Supervisory Review and Evaluation Process and banks' own estimate of their liquidity needs, known in regulatory jargon as the Internal Liquidity Adequacy Assessment Process. An ECB spokesperson declined to comment. (Reporting by Francesco Canepa and Jesus Aguado; Editing by Sharon Singleton)


New Straits Times
03-07-2025
- New Straits Times
Malaysia, Italy to strengthen defence ties with focus on procurement and tech
Slug: izaircraft HL: Malaysia, Italy to strengthen defence ties with focus on procurement and tech ROME: Malaysia and Italy are set to deepen defence cooperation, with new agreements on procurement, training, and technology sharing discussed during Prime Minister Datuk Seri Anwar Ibrahim's official visit to the country. Anwar said Defence Minister Datuk Seri Mohamed Khaled Nordin, in detailed discussions with his Italian counterpart Guido Crosetto, had addressed the ongoing acquisition of maritime patrol aircraft and helicopters from Italian defence contractor Leonardo. The talks also covered areas such as maintenance, repair and overhaul (MRO), training, and technology transfer. "They also discussed the centralisation of training and initial flight operations at Batu Berendam Airport," Anwar said, adding that the coordination of these efforts would also involve Transport Minister Anthony Loke. Khaled said both governments agreed that any potential procurement involving Italy should be undertaken via a government-to-government approach. "In this way, pricing will be more favourable, and there will be a guarantee on any assets purchased, as they will be backed by government assurance," he said. He added that with Italy's growing interest in the Indo-Pacific region, numerous training exercises and operations are expected to take place, necessitating a joint logistics agreement to address bureaucratic challenges and ensure the smooth support of Italian assets. Khaled also highlighted Italy's advancements in emerging domains such as cybersecurity and artificial intelligence, as well as its experience in protecting underwater infrastructure in the Baltic region. "At Asean defence ministers' meetings, we have raised the issue of securing underwater energy grids that connect Asean countries. "Therefore, we have requested that Italy share its expertise in this area, from which both Asean and Malaysia can benefit," he said.