A Stockholm arbitration court will next week start hearing the Lithuanian government's suit against Russia's gas supplier Gazprom over unfair gas prices.
© Reuters/Scanpix

Mantas Dubauskas, spokesman for the energy minister, confirmed to BNS that the hearing would take place on Jul. 1–10 and the final decision might be expected late this year or early next year.

Energy Minister Rokas Masiulis, the ministry’s officials and its lawyers should participate in the hearing.

In October 2012, the Lithuanian government filed a claim against Gazprom demanding approximately 1.4 billion euros for overcharging of gas supplies between 2014 and 2012.

In what might be an attempt to influence the Stockholm arbitration court and, possibly, appease EU regulators, Gazprom cut the price of natural gas supplies to Lietuvos Dujos, which sells gas to all household users in the country, by more than 20 percent in May 2014.

Early in April, Gazprom withdrew its arbitration suit against Lithuania over the implementation of the European Union’s (EU) Third Energy Package.

It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Swedbank's pension funds invest EUR 200 mln into sustainable business

Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth...

Belarus complains: Lithuania's blocking Minsk-EU agreement

Belarusian representatives complained in Brussels last week that Lithuania is blocking the...

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...

Shopping frenzy: biggest retail chains plans allocate millions of euros for new stores

Lithuania's five biggest retail chains – Maxima , Lidl , Rimi, Iki and Norfa – have...

Construction launched on EUR 15 mln hotel in Kaunas

Construction is being launched on a 15-million-euro Moxy hotel, part of the Marriott Group , in...