The shareholders’ meeting, scheduled on 23 March, has not been called off and will probably take place but the draft decisions, which were put forward some time ago, will not be approved, unofficial sources have said.
“The meeting should take place, it’s just that the decisions will probably be somewhat different,” sources close to the company told BNS.
Lietuvos Dujos’ spokeswoman, Sigita Petrikonytė-Jurkūnienė, told BNS that the meeting had not been called off and the company did not intend to publish an agenda that would differ from the one announced before.
Energy Deputy Minister Kęstutis Žilėnas, representing the Energy Ministry in the company’s board, refused to make any comments when contacted by BNS. He noted, however, that he would not attend the meeting as he would be away on a business trip.
The circumstances have changed as a result of the decision by the Lithuanian National Control Commission for prices and Energy to give Lietuvos Dujos two more months, until 31 May, to submit a final ownership unbundling plan.
As reported early in March, natural gas transmission pipelines should spun off into a new company, which, according to unofficial sources, would be owned by the government.
Lietuvos Dujos would continue to operate as a gas supplier, while its distribution pipelines would be taken over by a newly established subsidiary. The latter two companies would be owned by Gazprom jointly with E.ON Ruhrgas.
On 23 March, Lietuvos Dujos' shareholders were expected to authorize the company‘s board to work out the terms of unbundling and to adopt other decisions required for the unbundling of operations.
The government has set a late 2014 deadline for the unbundling of gas assets in line with the EU's Third Energy Package.
Gazprom owns 37.1 percent of shares in Lietuvos Dujos, E.ON Ruhrgas International holds 38.9 percent, and the Lithuanian Energy Ministry holds 17.7 percent. Lietuvos Dujos is quoted on the blue-chip Main List of the NASDAQ OMX Vilnius stock exchange.