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Lithuania wants a “fair gas price” from Russia’s gas giant Gazprom or will go to international arbitration, the Baltic country’s energy minister said on Thursday.

Prices charged by Gazprom violate an agreement made when Lithuania’s gas utility Lietuvos Dujos was privatized and Lithuania wants to have talks on the matter, Energy Minister Arvydas Sekmokas told a briefing.

Gazprom and Germany’s E.ON Ruhrgas respectively own 37.1 and 38.9% stakes in Lietuvos Dujos, while Lithuania’s government has 17.7%, reports LETA/ELTA, referring to Reuters.

“We have proof that Gazprom has violated the privatization deal… by setting an unfair gas price. We propose to start talks to correct this,” Sekmokas told journalists, but did not elaborate.

Otherwise, the minister said Lithuania would go to the international arbitrage in Stockholm to cancel the privatization deal.

The Energy ministry said in a statement Gazprom, the sole supplier of natural gas to the Baltic state, was putting” political and economic pressure” on the government.

Source: baltic-course.com