Policy & Regulation

Russian shareholders resisting Latvian pipeline pressure

Russian shareholders look unlikely to sell their stakes in Latvia's transmission system, suggesting they want to maintain their influence in the Baltic gas market Russian shareholders look unlikely to sell their stakes in Latvia's transmission system, suggesting they want to maintain their influence in the Baltic gas market.
By Tim Gosling 13 December 2017 0 28764
Gas pipelines in Latvia Latvian gas infrastructure. (Conexus)

Russian shareholders appear unwilling to sell out of Latvia’s transmission grid, but their efforts to prevent a unified Baltic gas market may still be over. 

A new Latvian energy law pushing market liberalisation came into effect in April. The legislation suggests shareholders including Russia’s Gazprom and Rosneft – which together control 50.1% of Latvia’s transmission system operator (TSO) Conexus Baltic Grid – must sell their stakes by the end of the year. But with just over a fortnight until the deadline, a sale looks unlikely.

While...