Baltic States – CIS, Energy, Gas, Latvia

According to Makaris, until then LG board chairman Adrians Davis will most probably have multiple meetings with Gazprom representatives.

Makaris did not provide more information about the agreement, he said that he would further report on the matter when the agreement signing date is near, writes LETA.

As reported, Davis announced recently 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.

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.