Lithuania says it won't be bullied by Gazprom

Published: 23 July 2002 y., Tuesday
Lithuania will not bow to pressure from Gazprom, the sole pretender for 34 percent of gas utility Lietuvos Dujos, and could delay the sale if the gas giant offers too little for the stake, the government said. Gazprom and a Lithuanian partner, gas distributor Dujotekana, submitted the only application to bid in a tender for the Dujos stake. Local media reports cited officials of the Russian firm saying they would offer significantly less than the price a German consortium agreed to pay in May for an equal stake in the utility. Ruhrgas and E.ON Energie paid 116 million litas ($33.78 million) for their 34 percent stake in Dujos, placed another 34 million litas in an escrow account that the government could draw after meeting certain conditions and pledged to invest 70 million litas in a new issue of Dujos shares. "With the Western strategic investor on board there is already a certain stability and we are no longer alone negotiating with Gazprom, so now it's easier to resist the psychological pressure we have long felt regarding this privatization and still feel," Economy Minister Petras Cesna told a news conference. But he noted that official talks had not yet started with Gazprom, which he hoped could help ensure stable gas supplies and prices as well as "more political reliability," given that the Russian government has not yet signed a long-term gas-supply treaty with Lithuania. Dujotekana has said it was aiming to acquire 9 percent of the gas utility while its Russian partner would buy 25 percent, as required by tender conditions.
Šaltinis:
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

FDI in Lithuania Grew by 5 % and Lithuania’s Investment Abroad Increased by 14 %

Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009. more »

Fish industry voices concern over foreign fish and falling prices

Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April. more »

Future of European agriculture - have your say

EU opens public debate on its agricultural policy, the prelude to a major reform in 2013. more »

Commission launches €35 million call for projects that turn environmental challenges into business opportunities

The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme. more »

Bank SNORAS group consolidates the activity of the Baltic investment companies

Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States. more »

European Central Bank and European Commission hold joint conference on "financial integration and stability: the legacy of the crisis"

The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main. more »

12 April 2010 - ECB signals a gradual recovery of the European financial integration process

Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets. more »

World Bank Group: Record US$100 Billion Response Lays Foundation for Recovery from Global Economic Crisis

World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn. more »

IMF Executive Board Concludes 2010 Article IV Consultation with Serbia

On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia. more »

United Kingdom Contributes US$7.5 Million to Support IMF Technical Assistance in Statistics in Africa

The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project. more »