Russian gas concern Gazprom must pay Lithuania a fine of 35.651 million euros, which was imposed two years ago for refusing to sign a gas exchange deal with Lithuania's state-owned electricity production group Lietuvos Energijos Gamyba (Lithuanian Energy Production, LEG) formerly known as Lietuvos Energija, the Supreme Administrative Court ruled on Thursday.
© Sputnik/Scanpix

The court upheld the fine imposed by the Competition Council in 2014, which is the highest fine in the country's history.

In June of 2014, the Competition Council found that Gazprom 's refusal to negotiate with Lietuvos Energijos Gamyba on a natural gas swap deal in 2013-2015 prevented the Lithuanian company from purchasing cheaper gas from another supplier and thus breached a condition of a 2004 agreement on the acquisition and sale of shares in Lietuvos Dujos (Lithuanian Gas) .

It then said that LEG deal with a Western European company would allow reducing the costs of the gas purchased by the company, which would revise electricity prices for consumers.

Gazprom attempted to prove in court that the Competition Council misinterpreted a clause in the 2004 sanction for it to purchase a stake in Lietuvos Dujos and consequently started the probe and imposed the fine without a reason.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Poland thanks Lithuania for naming Vilnius street after Kaczynski

Poland on Friday thanked Lithuania for naming a street in its capital Vilnius after late Polish...

Georgia to continue to seek integration with West after election - formin in Vilnius

Tbilisi will continue to seek integration into the West regardless of who wins next Sunday's...

Lithuanian-Polish interparlt assembly might take place this year, MP says

The Lithuanian-Polish interparliamentary assembly might gather as early as this year, Arvydas...

Polish ForMin urges Lithuania to scrap election threshold for ethnic minorities - Interview (1)

Polish Foreign Minister Jacek Czaputowicz has called on Lithuania to amend its legislation so that...

Russian-language TV channel Current Time to be launched in Lithuania

The Vilnius TV Tower is starting on Friday to re transmit Current Time , a US-funded Russian-language...