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Lithuania suing Russian energy giant Gazprom
EU Observer ^ | 04.10.12 @ 09:25 (October 4) | Nikolaj Nielsen

Posted on 10/04/2012 7:04:03 PM PDT by Olog-hai

Lithuania has highlighted that Russian energy giant Gazprom is facing a series of billion-euro lawsuits on alleged price-fixing, as well as the recently-opened European Commission probe. Vilnius is prosecuting a €1.4 billion legal action against it at the Stockholm Arbitration Tribunal for alleged distortion of gas prices in Lithuania between 2004 and 2012.

Lithuania's Prime Minister Andrius Kubilius on Wednesday (3 October) said in a statement that German and Polish companies have also filed Gazprom cases. "In this respect, Lithuania is following suit," said Kubilius.

Lithuania is entirely dependent on Gazprom for its gas supplies and imports more than 80 percent of its energy from Russia. … Lithuania's energy minister Arvydas Sekmokas pointed out that prices went from $84 in 2004 to $497 in 2012 per 1,000 cubic meters of gas, reports the AFP. …

(Excerpt) Read more at euobserver.com ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Russia
KEYWORDS:

1 posted on 10/04/2012 7:04:10 PM PDT by Olog-hai
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To: Olog-hai

Vladimir Putin : “Foolish Lithuania. Soon, you’ll be returned to Mother Russia.”


2 posted on 10/04/2012 7:09:10 PM PDT by Viennacon
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To: Olog-hai

Whenever you see a Russian bear, odds are you see a Lithuanian poking it with a stick. LOL


3 posted on 10/04/2012 7:09:12 PM PDT by 1rudeboy
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To: Olog-hai

This price increase is actually a big deal for Lithuanians. There are no thermostats in Soviet apartments where most people still live. It runs from $100-$200+ PER MONTH heating bill for a 1 or 2 bedroom flat. That’s a huge problem if you make $500 a month like many Lithuanians do because you can’t turn the heat off to save money!


4 posted on 10/04/2012 7:21:32 PM PDT by lodi90
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To: 1rudeboy
Whenever you see a Russian bear, odds are you see a Lithuanian poking it with a stick.

That is a big reason Lithuania is one of my Favorite Eastern European Countries!


5 posted on 10/04/2012 7:29:53 PM PDT by KC_Lion ( Wherever I find myself standing, I forever stand with Israel.)
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