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2013 09 06

Prime Minister: Lithuania ready to buy Amber Grid's shares from E.ON and Gazprom

Lithuania’s government plans to buy the shares in Amber Grid, the gas transmission system operator, held by Germany’s E.ON. It would also buy the shares controlled by Gazprom if Russia’s gas giant decided to sell its holding in the Lithuanian gas company.
Jaroslavas Neverovičius ir Algirdas Butkevičius
Jaroslav Neverovič and Algirdas Butkevičius / Juliaus Kalinsko/15min.lt nuotr.
Temos: 1 Amber Grid, AB

“We discussed that as well and we said that we planned to buy the shares from E.ON and if Gazprom offered and decided that they wanted to sell us, we would buy... I think that, first of all, the value shall be the market value and next there are talks... I think we should pay as much as the shares are worth," Prime Minister Algirdas Butkevičius told reporters after a meeting with Gazprom CEO Alexei Miller in Vilnius on Friday.

Meanwhile Energy Minister Jaroslav Neverovič said that the purchase of shares was not being discussed for the meantime.

“I’d like to specify what the prime minister has just said. In fact, we are not talking about any specific decisions on the purchase of shares now, whether it concerns Lietuvos Dujos (Lithuanian Gas), or Amber Grid. In general, various scenarios are being considered and the contracts, agreements on potential purchase of shares will be signed after the completion of all assessments and approval of respective decisions of the government,” Neverovič said.

He added that it was still unclear now whether a new valuation of Amber Grid’s shares would be carried out.

“This question is premature, the goal of the state is to implement the unbundling legislation. The operator of gas transmission systems shall be independent from the end of next year, which is what we aim at and seek for,” the minister said.

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