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

She declined to enlarge, only saying that the Economy Ministry was working on several matters regarding liberalization of the gas market, which were important in the context of Latvijas Gaze shares. According to Straujuma, the Economy Ministry could present its gas market liberalization report to the next government already.

Straujuma declined to say whether Latvia was still participating in the talks on acquisition of the Latvijas Gaze shares.

Likewise, the Economy Ministry did not comment on the matter, explaining that it was classified information and the ministry therefore could neither confirm nor deny it.

As reported, Straujuma said in a television interview yesterday that the state could afford to buy E.ON Ruhrgas 47.23% stake in the Latvijas Gaze.

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%.