Maximus
Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

Pressure rises for Gazprom to make deal

Jun 04, 2014
From wire report

Pressure rises for Gazprom to make deal
SELL SIGNAL: Gazprom will soon have to divest itself of some assets in Lithuania.

VILNIUS - Lithuanian Prime Minister Algirdas Butkevicius says that once the state takes over control of gas supply and transmission companies Lietuvos Dujos and Amber Grid, it will be possible to implement strategic decisions faster, reports ELTA.
In a May 22 interview with Ziniu Radijas radio, the prime minister said that the leadership of the German company E.ON Ruhrgas International made a decision to withdraw from the Baltic and Nordic region in early 2013. That is when private negotiations started.

According to Butkevicius, the government took a good opportunity to take over control of these strategic companies, and if Lithuania did not step in, E.ON would have sold shares to someone else.
“When negotiating with gas suppliers we will have more power, and coordination procedures will be facilitated. We will have two additional members on the board of Lietuvos Dujos,” the prime minister said.
Based on current legislation, Lithuania will have to propose to acquire the remaining Lietuvos Dujos and Amber Grid shares from Gazprom and other minor shareholders.
Butkevicius did not predict how much the deal would be worth. According to him, first of all Gazprom has to make its decision.

Nonetheless, the prime minister said that talks and negotiations with the Russian company will be more difficult than with the Germans.
On May 21, Lietuvos Energija, UAB and UAB EPSO-G signed agreements with E.ON Ruhrgas International on the purchase of shares of Lithuania’s energy companies AB Lietuvos Dujos, AB Amber Grid and AB LESTO owned by the German concern. The package of shares owned by E.ON Ruhrgas International in all the companies will be purchased for 147.3 million euros, including the accumulated interest and dividends paid by LESTO. This amount is lower than that assessed by independent appraisers and is calculated according to the weighted average price of shares on the exchange.

Russian gas giant Gazprom though is not rushing to negotiate with Lithuania over its shares in Lithuanian companies Amber Grid, Lesto and Lietuvos Dujos.
“There were various discussions. However, we have not heard anything firm from Gazprom. They say they will discuss it later as this issue was not included in the agenda. Yet I think there will be an offer,” said the prime minister.
According to Virgilijus Poderis, the head of EPSO-G, in October Lithuania will have to complete the implementation of the EU Third Energy Package, and if Gazprom fails to sell its shares in Lithuanian companies by then, it may lose its voting rights.

 MORE NEWS
  • An intro to Latvia’s banks...
    The recent crisis and the ongoing economic slack have shed light on the importance...
  • Texans show interest in Latvia...
    RIGA - Starting his working visit to the United States on Sept. 22, Latvian Presid...
  • Straight from the source The ...
    RIGA - Supermarkets have radically changed the way we consume food. In the Western...
  • Clean-up of insolvency process...
    TALLINN - A legal process in Latvia that is many times associated with systemic...
  • Office properties big movers i...
    RIGA - The total amount of investments in commercial property in the Baltic Sta...
  • Long slog ahead with Russia, w...
    TALLINN - Estonian Defense Minister and Chairman of the Social Democratic Party...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.