06.04.2010, 21:31
Energy Minister Discusses AB Lietuvos Dujos Business Activities
OREANDA-NEWS. April 06, 2010. A meeting was held between the Chairman of the Board of Directors of AB Lietuvos Dujos and Deputy Chairman of Management Committee of OAO Gazprom Dr Valery Golubev and the Minister of Energy of the Republic of Lithuania Arvydas Sekmokas. At the meeting, a discussion was held on AB Lietuvos Dujos business activities with regard to market development as well as its investment plans and perspectives.
After the privatization, AB Lietuvos Dujos launched an ambitious investment programme (for details see the Company’s press release of 4 March 2010 http://www.dujos.lt/index.php/media-service/press-releases/ab-lietuvos-dujos-investments-priorities-to-secure-safety-of-supplies-and-to-implement-the-national-energy-strategy-measures/1896) which is line with the Plan of Measures of the National Energy Strategy, with a special emphasis on the aspects of securing the safety and reliability of natural gas supplies. Over the past five years, the newly-constructed natural gas infrastructure increased by 2.4 thousand kilometers. It means that approximately 1/3 of the infrastructure facilities operated by AB Lietuvos Dujos was constructed during said five years, by investing on average LTL 140 million* per year. It is obvious, that any accusations of reluctance to invest are absolutely unfounded.
At the meeting, Dr Golubev laid much stress on the fact that one of the main directions of the investments made by AB Lietuvos Dujos is securing safety and reliability of natural gas supplies to customers. The Company is implementing and is set to implement new investment projects in this direction, provided such implementation does not have a negative economic impact on customers, in strict compliance with requirements of all applicable legal acts of the Republic of Lithuania and the national regulatory authorities. The Company and its shareholders are open to discuss any possible sources of financing of any such projects and procedures thereof, which is clearly defined in the Law on Natural Gas and in the case of the Project of Interconnection with Poland, also in the Shareholders’ Agreement. The Sakiai–Klaipeda Investment Project has already been prepared, nevertheless, for over two years now it has been awaiting the Ministry of Economy’s and lately the Ministry of Energy’s decision regarding granting partial co-financing from the EU Structural Funds, as it has been provided for by the Plan of Measures of the National Energy Strategy. By the way, even though it has not received a single cent of the planned EU funding, the Company has already invested into this Project approximately LTL 40 million of its own funds.
Article 5.2 of the Law on Natural Gas stipulates that the Government or an institution authorized thereby shall have the right to take decisions regarding setting up or expanding gas transmission pipelines, gas storage facilities or LNG (liquefied natural gas) facilities, whereas gas undertakings and the National Control Commission for Prices and Energy must implement such decisions. AB Lietuvos Dujos implements all the safety requirements imposed by all the applicable legal act provisions, but it has not received to any binding decisions regarding the infrastructure development pursuant to said Article of the Law on Natural Gas.
We would also like to draw your attention to the fact that the amendments to the Law on Natural Gas proposed by the Ministry of Energy and adopted by the Seimas of the Republic of Lithuania in 2009, contradict the spirit of the third energy package and do not promote investment.
The unfounded statements of recent days made by one of the three major shareholders of the Company about the business activities of AB Lietuvos Dujos show the reluctance to take into account the information submitted by the Company to the state authorities, or the pursuit of other goals.
On behalf of the shareholders Dr V. Golubev invited the Energy Minister A. Sekmokas to come for a detailed discussion on the investment issues to the General Meeting of Shareholders and the Meeting of the Board of Directors of AB Lietuvos Dujos to be held on 23 April 2010.
After the privatization, AB Lietuvos Dujos launched an ambitious investment programme (for details see the Company’s press release of 4 March 2010 http://www.dujos.lt/index.php/media-service/press-releases/ab-lietuvos-dujos-investments-priorities-to-secure-safety-of-supplies-and-to-implement-the-national-energy-strategy-measures/1896) which is line with the Plan of Measures of the National Energy Strategy, with a special emphasis on the aspects of securing the safety and reliability of natural gas supplies. Over the past five years, the newly-constructed natural gas infrastructure increased by 2.4 thousand kilometers. It means that approximately 1/3 of the infrastructure facilities operated by AB Lietuvos Dujos was constructed during said five years, by investing on average LTL 140 million* per year. It is obvious, that any accusations of reluctance to invest are absolutely unfounded.
At the meeting, Dr Golubev laid much stress on the fact that one of the main directions of the investments made by AB Lietuvos Dujos is securing safety and reliability of natural gas supplies to customers. The Company is implementing and is set to implement new investment projects in this direction, provided such implementation does not have a negative economic impact on customers, in strict compliance with requirements of all applicable legal acts of the Republic of Lithuania and the national regulatory authorities. The Company and its shareholders are open to discuss any possible sources of financing of any such projects and procedures thereof, which is clearly defined in the Law on Natural Gas and in the case of the Project of Interconnection with Poland, also in the Shareholders’ Agreement. The Sakiai–Klaipeda Investment Project has already been prepared, nevertheless, for over two years now it has been awaiting the Ministry of Economy’s and lately the Ministry of Energy’s decision regarding granting partial co-financing from the EU Structural Funds, as it has been provided for by the Plan of Measures of the National Energy Strategy. By the way, even though it has not received a single cent of the planned EU funding, the Company has already invested into this Project approximately LTL 40 million of its own funds.
Article 5.2 of the Law on Natural Gas stipulates that the Government or an institution authorized thereby shall have the right to take decisions regarding setting up or expanding gas transmission pipelines, gas storage facilities or LNG (liquefied natural gas) facilities, whereas gas undertakings and the National Control Commission for Prices and Energy must implement such decisions. AB Lietuvos Dujos implements all the safety requirements imposed by all the applicable legal act provisions, but it has not received to any binding decisions regarding the infrastructure development pursuant to said Article of the Law on Natural Gas.
We would also like to draw your attention to the fact that the amendments to the Law on Natural Gas proposed by the Ministry of Energy and adopted by the Seimas of the Republic of Lithuania in 2009, contradict the spirit of the third energy package and do not promote investment.
The unfounded statements of recent days made by one of the three major shareholders of the Company about the business activities of AB Lietuvos Dujos show the reluctance to take into account the information submitted by the Company to the state authorities, or the pursuit of other goals.
On behalf of the shareholders Dr V. Golubev invited the Energy Minister A. Sekmokas to come for a detailed discussion on the investment issues to the General Meeting of Shareholders and the Meeting of the Board of Directors of AB Lietuvos Dujos to be held on 23 April 2010.
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