Eesti Energia Ditches Plant Expansion for Shale Oil ({{commentsTotal}})

State-owned energy giant Eesti Energia's board will cancel plans to build a second boiler unit for a Narva power plant today.

The company's CEO, Sandor Liive, told Postimees today that they will not go forward with the 640-million euro plan of adding a second block, which would double the capacity of the Auvere plant to 600 megawatts.

Liive said they will concentrate on more lucrative shale oil production, which also produces electricity as a byproduct, and the company hopes to increase shale oil production by 10-fold by 2025, with Liive adding that producing shale oil doubles the amount of energy extracted from oil shale rock, compared to producing only electricity.