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Gazprom to consider Lithuania buy offer

June 03, 2014, 19:15 UTC+3 MOSCOW
Lithuanian gas networks are exclusively east-integrated and depend on gas supplies from Russia
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© ITAR-TASS/Alexei Filippov

MOSCOW, June 03. /ITAR-TASS/. Russian gas holding Gazprom has received the Lithuanian government’s proposal for the purchase of Gazprom’s share in Amber Grid and Lietuvos Dujos companies and is considering the offer, Gazprom’s Deputy Chairman of the Board Alexander Medvedev told a news conference.

Gas transportation and sales company Lietuvos Dujos is shared by E.ON Ruhrgas (38.9%), Gazprom (37.1%) and the Lithuanian government (17.7%).

Having no alternative to Russian gas, Lithuania insisted in June 2013 Lietuvos Dujos be divided by types of operations into a trade division and Amber Grid specializing in transportation, the demand in accordance with the EU Third Energy Package that excludes Gazprom’s participation in gas distribution in the EU. Three years later, Gazprom announced it was ready to sell its stake.

Lithuanian gas networks are exclusively east-integrated and depend on gas supplies from Russia. To diversify supplies, the government is constructing a liquefied natural gas terminal to get gas by sea, which can be an argument in the dialogue about price cut with Gazprom.

On the grounds of “unfair” price (about $500 per 1,000 cubic metres), the Lithuanian government filed a lawsuit against Gazprom at the international court of arbitration in Stockholm saying the country overpaid 1.3 billion euros.

In mid-May, the Lithuanian Prime Minister promised Russian gas price would decline by no less than 20% from July 1.

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