Latvian lats being equivalent to 1 lats. The 5 lats banknote was introduced at first, and the last banknote to be introduced was the 500 lats banknote on 20 July 1998. The lats was replaced on 1 January 2014 by the Euro, at the rate of 0.702804 Lats to 1 Euro. The second lats can be exchanged to euros at the official rate at the Bank of Latvia's cashier's office in Riga. Coins were issued in denominations of 1 santīms, 2 and 5 santīmi, 10, 20 and 50 santīmu, 1 lats and 2 lati. Besides standard coins in the list below and
Baltic Pipe On 2 May 2007, PGNiG and Energinet.dk, a Danish transmission system operator, which was taken over Danish natural gas transmission network from DONG, signed an agreement to explore the possibility of construction the Baltic Pipe. In August 2008, the Polish Government replaced PGNiG with the fully state-owned pipeline operator Gaz-System as the project partner. On 18 May 2009, the European Commission launched a call for proposals for grants in the framework of the European Energy Programme for Recovery. It proposed to allocate about €150 million for implementation of Skanled and Baltic Pipe projects. However, on 16 June 2009 Gaz-System suspended