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Lithuania is close to selling Gazprom a 34% stake in Lietuvos Dujos

Lithuania is close to selling a 34% stake in the local gas company Lietuvos Dujos and Gazprom This was reported by both sides, adding that the amount of the deal has not yet been established.

The deal was already postponed twice because of the price issue, but both sides returned to the negotiating table after Gazprom promised to increase gas supplies to Lithuania by 21% last week as part of an agreement to buy Lietuvos Dujos.

Lithuania asks for a package of 116 million litas ($ 36.35 million). Earlier, a consortium of Ruhrgas and E.ON Energie paid 116 million litas for 34% of Lietuvos Dujos, and the Lithuanian government could withdraw another 34 million litas from a special account after fulfilling certain transaction conditions.

In addition, German companies promised to invest 70 million litas in the new issue of Lietuvos Dujos shares. Currently, the Lithuanian government owns 58% of Lietuvos Dujos, which ended 2001 with a net profit of 13 million litas after a loss of 0.1 million litas in 2000. Reported by Reuters.



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