OREANDA-NEWSOn December 30, Gazprom will hold an auction to sell 13.56 million shares (34.09911%) to a Latvian gas storage and transportation company AS Conexus Baltic Grid, which was created as part of the reorganization of Latvijas Gaze. This follows from the materials of the Russian company.

The deadline for accepting applications is December 26. Bidding will be held on December 30 at the electronic trading platform of Gazprombank. The initial price is € 79 million, the minimum is € 70 million. The step to lower the initial bid price is € 1 million, the price increase step is € 500 thousand.

Conexus Baltic Grid was established as part of the reorganization of Latvijas Gaze in December 2016. The gas transfer and storage functions were transferred to the new company. At present, Conexus has a registered capital of 34.1% in Gazprom, 34.36% in Augstsprieguma tikls (a transmission system operator in Latvia), and 29.06% in Marguerite Gas I. Earlier it was reported that the new legislation of Latvia prohibits gas producers to have shares in gas transportation assets.