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Shareholders stall on unbundling decision.

From wire reports

VILNIUS - Shareholders, including Russian gas giant Gazprom, have asked for more time to consider plans at Lithuanian gas utility Lietuvos Dujos (Lithuanian Gas) to split up ownership of gas supply and transportation assets, reports ELTA. Unbundling is part of the European Union's market liberalization policy and aimed at reducing dependence on energy from Russia.

The state energy regulator last week agreed to extend the deadline for the shareholders to present a plan on separating the ownership of gas supply and transportation to the end of May, from the end of March.

Shareholders did not vote on unbundling options at an extraordinary meeting on March 23, as was planned earlier. They say they need more time for evaluation of the company and to negotiate the terms of gas transit to Russia's Kaliningrad exclave and gas purchases in the future, the company said in a statement.

Lietuvos Dujos did not provide a new date to vote on unbundling, but it will hold an annual shareholders meeting on April 23. The requirement to unbundle comes from an EU directive.

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Title Annotation:News Lithuania
Publication:The Baltic Times (Riga, Latvia)
Date:Mar 28, 2012
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