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Gazprom drops suit against Lithuania over EU's 'third energy package' - report

10:34 03/04/2015

MOSCOW, April 3 (RAPSI) – Russian gas giant Gazprom withdrew its suit against Lithuania that had moved to separate the ownership of gas supply and transportation assets to meet regulations of EU's so-called 'third energy package', Kommersant newspaper reported on Friday, citing Lithuania's Energy Ministry.

Gazprom claimed that Lithuania's plans violated the terms of the 2004 privatization deal for Lietuvos Dujos gas supplier.

Russian company held 37.1 percent of Lietuvos Dujos when it was asked to leave Lithuanian gas transportation business.

Working to separate the ownership of gas supply and transportation assets, Lithuania created Amber Grid in mid-2013 to handle gas transportation and in the fall of 2014 transferred the internal gas supply function to Lietuvos Duju Tiekimas.

Lithuania insisted that Gazprom cede its share in the gas transportation assets of Lietuvos Dujos that were transferred to Amber Grid.

Lithuania filed several lawsuits, including with the Arbitration Institute of the Stockholm Chamber of Commerce, demanding that Gazprom repay 1.5 billion euros in excess payments it received from Lithuania in 2004-2012. In mid-2014, the sides reached a compromise under which Gazprom offered Lithuania a 20 percent discount on gas and sold its debts in Lietuvos Dujos and Amber Grid to the Lithuanian government for 121 million euros.

However, Lithuania has not withdrawn its lawsuit from the Stockholm court, where the hearing is scheduled to start in July.

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Gazprom drops suit against Lithuania over EU's 'third energy package' - report

10:34 03/04/2015 Russian gas giant Gazprom withdrew its suit against Lithuania that had moved to separate the ownership of gas supply and transportation assets to meet regulations of EU's so-called "third energy package".
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