4 Dec 2019 13:21

Gazprom selling 34% of Latvian gas transport operator Conexus Baltic Grid

MOSCOW. Dec 4 (Interfax) - Gazprom is selling 34.09911% of Latvia's AS Conexus Baltic Grid, the Russian company said.

Bids will be accepted until December 26, and trading will be carried out on Gazprombank's Electronic Sales Platform on December 30.

Trading will begin at 79 million euros, with a minimum price of 70 million, a decrement of 1 million euros, and an increment of 500,000.

Conexus Baltic Grid, the operator of Latvia's gas transmission and storage system, was founded in December 2016 as a result of the reorganization of Latvijas Gaze. Gazprom currently controls 34.1% of it and the Marguerite Gas I Fund 29.06%. The state company Augstsprieguma Tikls, which operates the power transmission system, owns 34.36%; these shares were purchased from Itera Latvija (16.05%) and Germany's Uniper Ruhrgas International GmbH (18.31%).