Lietuvos Dujos AB - Notification on material event

AB Lietuvos Dujos reached agreement regarding a reduction in natural gas import price

Vilnius, Lithuania, 2014-05-08 14:18 CEST (GLOBE NEWSWIRE) -- 

In accordance with the decision of the General Meeting of Shareholders and upon
receiving the authorization of the Board of Directors, AB Lietuvos Dujos
entered into an agreement with the supplier of natural gas OAO Gazprom
regarding a significant reduction in the price of natural gas imported by AB
Lietuvos Dujos. The share of natural gas imported by AB Lietuvos Dujos is
approx. 40 per cent of the total amount of gas in the Lithuanian market. This
agreement finalized long-running and complex negotiations between AB Lietuvos
Dujos and OAO Gazprom. 

The representatives of both companies, in active cooperation with the boards of
the companies and with due consideration of the interests of the shareholders
and customers of AB Lietuvos Dujos, managed to find mutually beneficial
solutions that will allow the reduction of natural gas prices for the customers
of AB Lietuvos Dujos in the nearest future. 

The agreement signed is aimed at the consolidation of a long-term and
sustainable relationship with the clients of the company - natural gas
customers, the development of the company's business, and ensuring a
transparent and competitive market. The agreement sets forth the basic pricing
principles for the period until the expiration of the long-term contract on
natural gas supply, and forms preconditions for the renewal of this contract,
as well as for further successful and mutually beneficial cooperation between
the companies in the future development of the natural gas market in Lithuania. 



Authorised person:
Mantas Mikalajūnas
Head of Strategic Development Division
Tel. +370 5 236 02 20