6 Dec 2022 16:31

Azerbaijan could become Latvijas Gaze shareholder - media

BAKU. Dec 6 (Interfax) - Azerbaijan could become a shareholder in gas operator Latvijas Gaze, the Latvian media reported, citing Andris Ameriks, a member of the European Parliament from Latvia.

Work in this direction is underway, and there could be results in the very near future, Ameriks said.

Azerbaijan is becoming a serious partner for the European Union under the current geopolitical circumstances, which will help to solve energy problems, Ameriks said. Azerbaijan is already supplying natural gas to European countries such as Bulgaria and Greece, 60% of Italy's gas needs are met by Azerbaijani gas, "and this is far from the limit," he said.

Russia's Gazprom is currently Latvijas Gaze's largest shareholder with a stake of 34%, followed by Marguerite Gas II.S.a.r.l. at 28.97%, Uniper Ruhrgas International GmbH at 18.26%, and Itera Latvija at 16%.

Latvijas Gaze imports and sells natural gas. It was previously an integrated gas supply company in Latvia, but Latvian natural gas system operator Conexus Baltic Grid, which also operates the Incukalns underground gas storage facility, and gas distribution company Gaso were decoupled from it in 2017.