Lithuania’s gas firm to file gas price appeal against Russia’s Gazprom

January 31, 2014

The Lietuvos dujos (Gas of Lithuania) company decided January 30 to resort to arbitration because of what it claims is “an unfairly formed price” for natural gas supplied by the Russian gas monopoly Gazprom, which it believes to be overstated, said the country’s Ministry of Energy, Itar-Tass has reported.

The ministry said, “The price for gas supplied to Lithuania by Gazprom considerably exceeds that fixed for Latvia, Estonia and Germany”, which “causes damage to consumers, our economy and Lietuvos dujos that loses customers, while gas consumption declines”. The appeal will be revoked, if talks with Gazprom yield “a price reduction to a reasonable level”.

Another appeal with the Stockholm Arbitration Tribunal has been filed by the Lithuanian government, which believes the country overpaid 5 billion lit (€1.5 billion) for Gazprom’s gas.

Copyright: Itar-Tass, 2014