Gazprom to sell its stake in Lithuanian utilities

By The Associated Press | Posted - Jun. 12, 2014 at 8:40 a.m.

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

VILNIUS, Lithuania (AP) — The Lithuanian government says Russian gas giant Gazprom plans to sell its stake in Lithuanian companies for some 417 million litas ($164 million).

Gazprom, which provides all of the Baltic country's natural gas along a pipeline from Russia, owns 37.1 percent of Lithuanian utilities Lietuvos Dujos and Amber Grid.

Prime Minister Algirdas Butkevicius said Thursday that the move will not impact gas prices before the current contract for gas purchases expires at the end of 2015. He said future prices will "depend on further talks with Gazprom."

Later this year, a floating liquefied gas terminal will begin operations off the Lithuanian coast, in a move expected to reduce the dependence on Russian energy of the three Baltic countries, which include Latvia and Estonia.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press


    Catch up on the top news and features from, sent weekly.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast