Baltic Sea region energy companies step up cooperation to strengthen energy security

Leading energy companies in the Baltic Sea region will sign a Memorandum of Understanding (MoU) in Warsaw on 2 September, aimed at deepening regional cooperation and developing joint projects that support energy security, resilience and competitiveness in the Baltic Sea region.

Eesti Energia and Enefit are represented at the meeting by Andrus Durejko, Chairman of the Management Board of Eesti Energia, and Gerrit Mäesalu, Chairman of the Management Board of Enefit OÜ. The meetings, taking place on 2–3 September, will focus on regional energy security, the resilience of critical energy infrastructure, competitiveness and closer cooperation between energy companies.

According to Andrus Durejko, Chairman of the Management Board of Eesti Energia, events in recent years have transformed the role of the Baltic Sea region in the European energy system.

‘The Baltic Sea region is no longer on the periphery of Europe, but one of the pivotal regions for European security and energy security. The synchronisation of the Baltic states’ electricity systems with Continental Europe demonstrated clearly that energy security is an integral part of national security. Our next objective is to build an energy system that is at once more reliable, cleaner and more competitive,’ said Durejko.

According to him, energy security and economic competitiveness must go hand in hand. ‘Reliable and competitively priced energy is a prerequisite for economic growth. Companies will not invest in a region where they lack certainty regarding energy availability, price and the reliability of the infrastructure. Therefore, investments must strengthen security of supply while simultaneously helping to keep energy prices competitive for businesses and consumers,’ added Durejko.

The Baltic Energy Initiative, spearheaded by ORLEN, aims to establish a cooperation platform for energy companies in the Baltic Sea region to develop joint projects, exchange knowledge and formulate common positions at the European level. The initiative does not replace existing intergovernmental cooperation formats, but complements them with an industry perspective.

The strategic basis for this cooperation is energy security and resilience. Potential areas of cooperation include the protection of critical energy infrastructure, offshore wind energy, LNG and bio-LNG, hydrogen, carbon capture, utilisation and storage (CCUS) solutions, nuclear energy and small modular reactors (SMRs), and industrial energy solutions.

‘Our energy systems are already closely interconnected and this interdependence will grow even further in the future. We must therefore also step up cooperation at the corporate level – ranging from the continuity of critical infrastructure and supply chains to new technologies and investments,’ said Gerrit Mäesalu, Chairman of the Management Board of Enefit OÜ. ‘The compact size of the Baltic region can be an advantage here: we can cooperate across borders and deploy new solutions more rapidly.’

On 3 September, Durejko will take part in the opening panel of the Baltic Energy Conference, entitled ‘Assessing the Strategic Importance of the Baltic Sea Region for European Security and Growth’, alongside ORLEN CEO Ireneusz Fąfara, Gasgrid Finland CEO Olli Sipilä, and ICEYE CFO Magdalena Bartoś. The panel will discuss the links between energy security and economic growth, supply chain issues relating to the construction of new energy infrastructure, and the role of smart grids and artificial intelligence in the energy system of the future.

Background

The Baltic Energy Initiative meeting on 2 September in Warsaw will bring together executives from energy and technology companies across the Baltic Sea region. During the initial phase of the initiative, a shared vision and priorities will be agreed upon, and participating companies will appoint representatives to prepare for future cooperation. The MoU is non-binding and entails no automatic investment or financial commitments for Eesti Energia or Enefit; participation in specific projects will be decided by each company on a case-by-case basis.

On 3–4 September, a meeting of the Nordic-Baltic Eight (NB8) energy ministers will also take place in Tallinn under the Estonian chairmanship, where Estonian Minister of Energy and the Environment Andres Sutt will host the energy ministers of the NB8 countries and Deputy Minister of Energy of Ukraine Anatolii Kutsevol. The meeting will focus on supporting Ukraine’s energy supply for the upcoming winter, safeguarding the energy infrastructure in the Baltic Sea region and ensuring the continuity of the energy system, as well as developing a competitive Baltic Sea energy market.

In 2026, Estonia chairs the Nordic-Baltic Eight (NB8) cooperation format. The NB8 format brings together Estonia, Latvia, Lithuania, Finland, Sweden, Denmark, Norway and Iceland.