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

She therefore confirmed media reports that the state had withdrawn from the talks on buying the shares.

Straujuma explained, "We cannot afford this."

Portal "Pietiek.com" reported recently that several U.S. gas industry companies were willing to offer EUR 175 million for Latvijas Gaze shares.

According to Pietiek.com, a number of U.S. energy industry leaders, who met with Latvian President Andris Berzins during his visit in Houston in September, proposed offers of various degrees with an aim to strengthen Latvia's energy independence from Russia. The first offer includes acquisition of 47.23% of Latvijas Gaze shares that currently belong to E.ON Ruhrgas, while the second deals with investing in the construction of a liquefied gas terminal in Latvia, at the same time providing gas supply from the United States.

Also, two Lithuanian companies, which are interested in gaining access to the Incukalns underground gas storage facility, have submitted non-binding offers to buy E.ON Ruhrgas shares in Latvijas Gaze, TV3 broadcast "Neka personiga" reported.

Latvijas Gaze posted EUR 32.2 million in profit last year – 1.3% decrease on 2012 when the company's profit totaled EUR 32.6 million.

E.ON Ruhrgas International GmbH is the largest shareholder in Latvijas Gaze with 47.2% of shares. Russia's Gazprom owns 34% of shares and Itera Latvija 16%.