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Latvian government mulls purchase of shares in new gas transmission, storage operator

Xinhua, January 4, 2017 Adjust font size:

The Latvian government is set to decide in the next coming weeks on buying a stake in Conexus Baltic Grid, a new gas transmission and storage operator, local media reported on Tuesday.

Conexus was established last month to unbundle Latvian natural gas monopoly Latvijas Gaze in line with EU requirements.

The Economics Ministry has completed its analysis and sent out its findings to other ministries. The decision is a matter of a week or two, Latvian Economics Minister Arvils Aseradens told LETA news agency.

The Economics Ministry had hired Deloitte Latvia audit firm to analyze possible scenarios for Conexus Baltic Grid shares, the report said.

Conexus Baltic Grid was established in December to take over Latvia's main gas pipeline and an underground storage facility from Latvijas Gaze, which will carry on with its gas sale business. Endit