Liive Ready to Continue as Eesti Energia CEO, Warns Against Coalition Agreement

Sandor Liive (Scanpix/Postimees)
7/31/2014 11:15 AM
Category: Economy

State-owned energy giant Eesti Energia's CEO Sandor Liive said he is willing to continue on the job after his contract expires in November, adding that the state and the board must have a similar understanding.

Eesti Energia announced an open competition on Wednesday to find the company's next CEO, but Liive told Eesti Päevaleht he is willing to continue but the company must keep focus on oil shale and continue with projects abroad.

The new Reform Party – Social Democrat coalition agreed to analyze the possibility of carving up Eesti Energia. Liive said the main problem with splitting the company are loans taken as a group.

Speaking about the current projects, he said the Auvere shale oil plant is currently under repair and will be switched back on in a month, and if the plant proves itself Eesti Energia could sanction the construction of two more next year.

Liive said the United States had 75 percent of the world's oil shale reserves and the company is working on technology to utilize the Utah mine reserves, but the costs so far have run to 50 million euros.

The Jordan electric plant project is also on the way, have received a green light from the Jordanian government, Liive said, with a plan to sign an electricity sales agreement in a month and then move forward with investors.


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