Conexus Baltic Grid certified as independend natural gas transmission operator

The Latvian Public Utilities Commission (LPUC) has certified Conexus Baltic Grid (Conexus) as an independent natural gas transmission and storage system operator.

At the same time, LPUC concluded that the company meets the certification requirements only partly, therefore the certification comes on conditions that should be met by 2020.

By January 1, 2020, Conexus should make sure that Gazprom does not have ways to implement direct or indirect control over Conexus. Also, by January 1, 2020, Conexus has to preven the risks of conflict of interests posed by Marguerite Gas I and Marguerite Gas II participation in both Conexus and Latvijas Gaze. Conexus every two months will have to report to LPUC on progress in these matters and the planned steps.

LPUC said that the European Commission has also approved of LPUC decision, saying that Russian gas company Gazprom, which is a shareholder of both Latvijas Gaze gas utility and Conexus, might potentially exercise direct or indirect control over Conexus.