Klaipedos Nafta to sell Litgas shares

Klaipedos Nafta informed it will sell all its shares in Lithuania’s natural gas supply and trading company Litgas.

“In order to implement unbundling of the activities in the natural gas sector, the European Commission recommended National Commission for Energy Control and Prices to certify Amber Grid as the transmission system operator on the condition that all shares of Litgas controlled by Klaipėdos Nafta would be transferred,” the company said in a statement.

Klaipedos Nafta currently owns 33.3% of the Litgas shares, the rest 66.7% is owned by Lietuvos Energija.

The 15 000 000 ordinary shares Klaipedos Nafta owns have a nominal value of 0.29 euros each.

Non-binding application from potential buyers are to be submitted by May 29, 2015, Klaipedos Nafta informed.

LNG World News Staff; Image: Klaipedos Nafta