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In order to break down Gazprom’s monopoly in pure gas market of Lithuania, first massive scale LNG import terminal (Klaipėda LNG FSRU) within the Baltic region was inbuilt port of Klaipėda in 2014. The Klaipėda LNG terminal was referred to as Independence, thus emphasising the purpose to diversify vitality market of Lithuania.

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The nation can also be growing oil refineries and shipyards. The industrial sector contributes 28.5% to the GDP employing around 25% of the energetic population. Lastly, the providers sector contributes 68.3% to the GDP and employs 65.8% of the active population. The info know-how and communications sectors are crucial contributors to the GDP. Railway transport in Lithuania provides lengthy-distance passenger and cargo companies.

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Grand Duke Gediminas issued letters to the Hanseatic league, offering free access to his domains for men of every order and occupation from nobles and knights to tillers of the soil. Economic immigrants and immigrants, in search of non secular freedom improved the level of handicrafts. The first Lithuanians formed a branch of an ancient ethno-linguistic group often known as the Balts.

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On 2 February 2002 the litas was pegged to the euro at a price of three.4528 to 1, which remained until Lithuania adopted the euro in 2015. Lithuania was very close to introducing the euro in 2007, but the inflation stage exceeded the Maastricht requirements.

Half of all picosecond lasers bought worldwide are produced by Lithuanian corporations, whereas Lithuanian-made femtosecond parametric mild amplifiers, used in producing the ultrashort laser pulses, account for as much as 80% of the world market. Lithuania is among the many high 5 nations in the world by postsecondary (tertiary) training attainment.As of 2016[update], 54.9% of the inhabitants aged 25 to 34, and 30.7% of the inhabitants aged 55 to sixty four had accomplished tertiary schooling.

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«Apie 2014–2020 m. ES fondų investicijas – Finansavimas – 2014–2020 Europos Sąjungos fondų investicijos Lietuvoje». Agriculture contributes 3.3% to the GDP and employs 9.1% of the energetic workforce (CIA World Factbook 2017 estimates). Lithuania’s main agricultural merchandise are wheat, wooden, barley, potatoes, sugar beets, wine and meat (beef, mutton and pork). The major industrial sectors are electronics, chemical merchandise, machine tools, metal processing, construction material, household home equipment, food processing, mild business (including textile), clothing and furniture.

Norvegian firm Equinor provides 540 million cubic metres (19 billion cubic feet) of natural gasoline yearly from 2015 till 2020. The terminal is ready to meet the Lithuania’s demand one hundred pc, and Latvia’s and Estonia’s national demand ninety p.c in the future. Laser technologyLithuanian laser firms https://russiansbrides.com/lithuanian-women/ have been among the first ones in the world to switch fundamental analysis into manufacturing. Lithuania’s laser producers export laser technologies and units to just about one hundred international locations.

Railways carry approximately 50 million tons of cargo and 7 million passengers a year. Direct rail routes hyperlink Lithuania with Russia, Belarus, Latvia, Poland, and Germany. Also, the principle transit route between Russia and Russia’s Kaliningrad Region passes through Lithuania.

Lithuanian Railways AB transports about forty four% of the freight carried by way of Lithuania. This is a really excessive indicator in comparison with other EU nations, the place freight transportation by rail amounts to solely 10% of the total.

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On 1 January 2015, Lithuania turned the nineteenth country to make use of the euro. Consolidation of the Lithuanian lands began in the late 12th century. King Mindaugas was the primary pan-Lithuanian ruler, as the Catholic King of Lithuania in 1253.