In October, 34% of AS Latvijas gāze (Latvian Gas, LG) shares were bought back from the Russian company Gazprom.
That was reported by Latvian broadcaster LSM, according to Ukrinform.
According to Latvijas gāze, 27.85% of the shares of Latvijas Gāze owned by Gazprom were bought back by a special purpose vehicle set up by board members of LG, SIA Energy investment, and Lithuanias UAB Haupas. The financial details of the transaction have not been disclosed.
Last autumn, 28.97% of Latvijas gas shares were bought back from the Luxembourg investment fund Marguerite Gas II S.À.RL.
Company representatives note that the changes mean the majority of the shareholders of LG are now citizens of Latvia.
Aigars Kalvītis, Chairman of the Board of Latvijas gāze, added that efforts are ongoing to buy back shares from two other major co-owners — Itera Latvija and Germany’s Uniper Ruhrgas International — to ensure that the company, under local capital control, becomes a significant player in the Baltic energy market.
Latvijas gāze has published an updated list of shareholders:
Energy Investments LLC – 27.85%
UAB Haupas – 6.15%
JCS Rietumu banka – 28.97%
Uniper Ruhrgas International GmbH – 18.26%
LLC Itera Latvija – 16%
Other shareholders – 2.77%.
As previously reported by Ukrinform, on October 7, Prime Minister Denys Shmyhal announced that Ukraine would not renew the gas transit agreement with Russia.
