Bloomberg News

Court Rejects Gazprom Complaint Over Lithuania Management Ouster

July 31, 2012

The Stockholm arbitration court turned down Gazprom OAO (GAZP)’s complaint over Lithuania’s plan to oust managers representing the Russian gas-export monopoly at the Lietuvos Dujos AB (LDJ1L) gas utility.

The court decided that Gazprom can’t prevent the government from seeking a judicial ruling over the performance of the Lietuvos Dujos management, the Energy Ministry in Vilnius, Lithuania’s capital, said in an e-mailed statement today.

The government sought to oust Lietuvos Dujos’s management, alleging it ignored the interests of Lithuania and didn’t negotiate a fair gas price for Russian supplies. Gazprom holds 37 percent in the company.

Lithuania is splitting ownership of the gas sales and transmission activities of Lietuvos Dujos as part of a European Union drive to force dominant energy companies to improve access for competitors.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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