Lietuvos Dujos Joins Lithuania in Arbitration Against Gazprom

Lithuania’s Lietuvos Dujos has joined arbitration against Gazprom over gas prices.

The Baltic country is initiating new arbitration proceedings to obtain lower gas prices. It is suing Gazprom for $2 billion in claimed overcharges. The utility will join the arbitration, as voted by the shareholders on Thursday. 

The ministry holds 18% of Dujos, Gazprom 37% and E.ON SE 39%.

‘OAO Gazprom supplied gas price for AB Lietuvos Dujos is significantly higher than in Latvia’s, Estonia’s or Germany’s markets. This is harmful for our customers, for our economy and also for the company AB Lietuvos Dujos, which is actually losing customers and gas consumption is being significantly reduced because of such prices,’ reads a note released on Thursday.

According to Eurostat, Lithuania’s dependency on Russian Gazprom gas is at 100%, while its electric power import amounts to the EU record-high 70%.

Also on Thursday, RWE Supply & Trading confirmed it continues price negotiations with Gazprom.