January 30, 2014 / 9:17 AM / 4 years ago

Lithuania gas utility to start arbitration against Gazprom

VILNIUS, Jan 30 (Reuters) - Shareholders of Lithuania gas utility Lietuvos Dujos voted on Thursday to initiate arbitration against Russia’s Gazprom over gas prices, the energy ministry said.

“An extraordinary shareholders meeting of Lietuvos Dujos decided today to initiate an arbitration process against gas supplier Gazprom in order to lower too high gas prices,” the energy ministry said in a statement.

The decision to initiate arbitration was proposed by Lithuanian government, which holds 17.7 percent of Lietuvos Dujos. Germany’s E.ON owns 38.9 percent and Gazprom, the only gas supplier to the Baltic state, has 37.1 percent. (Reporting by Andrius Sytas; Writing by Nerijus Adomaitis; Editing by Balazs Koranyi)

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