Lithuania Wants Dujos to Seek Price Arbitration Against Gazprom
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The Lithuanian Energy Ministry wants gas utility Lietuvos Dujos AB to join the state in arbitration proceedings against OAO Gazprom to force the Russian gas monopoly to reduce prices under a 1999 contract.
Dujos shareholders will meet Jan. 30 to vote on the proposed litigation, the Vilnius-based company said today in a regulatory statement. The ministry holds 18 percent of Dujos, Gazprom has 37 percent and EON SE owns 39 percent. Talks with the Russian utility, which began last year, have yet to yield an agreement on price cuts.