Energy, Energy Market, EU – Baltic States, Gas, Gas Market , Legislation, Lithuania, Markets and Companies

Sarunas Rameikis, deputy director of the Lithuanian Financial Crime Investigation Service (FNTT), confirmed that international legal assistance requests had been sent to the countries' law-enforcement bodies.

In Rameikis' words, Lithuania is asking for information about Gazprom Marketing & Trading and Amsterdam Capital Trading, both former emissions trading partners of Lietuvos Elektrine.

"We are seeking information about these companies' activities, their transactions and ultimate shareholders. We have received no answers as yet," he told.

Lithuania's law-enforcement officials are looking into why the number of emission allowances given to Lietuvos Elektrine was significantly reduced during the allocation of allowances for 2008-2012 and why the Lithuanian company chose Gazprom Marketing & Trading and Amsterdam Capital Trading as its partners.

An inspection of Lietuvos Elektrine carried out by the National Commission for Energy Control and Prices has revealed that the company suffered losses of 42.736 mln euros from emissions trading activities in 2009 to 2011.

During this period, the power plant actually used more emission allowances that allocated free of charge by the state, but the total number of allowances it acquired was much higher than it needed for regulated production.

Also, allowances were usually purchased at a higher-than-market price, but sold at a lower-than-market price.