Latvia Tackles Gas Reform

RIGA — Latvia aims to hold talks with Gazprom on liberalization of the gas market in line with European Union rules, the government said Monday.

Latvia's Economy Ministry said it was planning to take its first steps in following the new EU rules, which will affect local gas monopoly Latvijas Gaze, which is owned by Gazprom, E.On and gas supplier Itera. "The cabinet of ministers will also decide on a proposed mandate to negotiate with Latvijas Gaze and its shareholders constructively to resolve issues on the liberalization of the Latvian natural gas market," the ministry said.

Gazprom last month launched legal arbitration proceedings against plans by Lithuania to strip Gazprom of its pipeline ownership as part of the EU's Third Energy Package, which includes more opening of the market.

(Reuters)

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