Baltic States – CIS, Energy, EU – CIS, Gas

As reported, last week Latvian gas utility Latvijas Gaze (LG) Director Adrians Davis announced that LG was close to reaching agreement with Gazprom on lowering the gas purchasing price for Latvia.

Davis will travel to Moscow in the near future in order to speak about the method for calculating the new price, which will be in effect for three years, informs LETA/AFP.

The current agreement between Latvijas Gaze and Gazprom will be revised by the end of November at the latest, predicted Davis.

The company's director was not able to give more specific information about the size of the price reduction, as talks are still ongoing.

Meanwhile, the Russian Ambassador to Lithuania Vladimir Chkhikvadze announced that Russian gas concern Gazprom is not planning to revise its prices for gas supplied to the Baltic States.

"As far as I am aware, the Russian company's [Gazprom] management does not wish to revise its long-term agreements with Lithuania, Latvia and Estonia as was done with other European countries. Delivery of small energy volumes to the Baltic States at a low price is not financially beneficial to Gazprom," indicated the ambassador.