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Lithuanian Government To Sell Gas Shares To Russian Gazprom

Vilnius, 7 January 2004 (RFE/RL) -- Lithuania's government today approved a deal to sell a third of Lietuvos Dujos (Lithuanian Gas) to Russia's Gazprom.

Under the deal, Gazprom will take a 34 percent share of Lietuvos Dujos for some $37 million. The deal also guarantees that Russia will supply Lithuania with natural gas for 10 years. The stock transfer is expected to take several months.

A German firm already holds 36 percent of Lietuvos Dujos, with the Lithuanian government controlling 58 percent. The stakes being sold to Gazprom will come from the government's holdings, with the Germans maintaining the same share.