JSC "Augstsprieguma tīkls" purchased additional shares in JSC "Conexus Baltic Grid"

During the sitting of 19 December 2017 the Government has made a decision that the country purchases also the shares in JSC "Conexus Baltic Grid" owned by SIA “ITERA Latvija”. According to this decision, Latvian Electricity Transmission System Operator JSC “Augstsprieguma tīkls” (AST) has concluded a transaction today with SIA “ITERA Latvija” about the purchase of 16,05% it owns in the natural gas transmission and storage system operator, joint-stock company “Conexus Baltic Grid”.

The price of the transaction between AST and SIA “ITERA Latvija” and other conditions thereof are confidential.

Thus Latvia owns now in total 34,36% of shares in JSC "Conexus Baltic Grid".

On the grounds of the assessment and opinions of the responsible institutions and the involved independent consultants, the Government has concluded that the purchase of shares in "Conexus Baltic Grid" is an important state energy independence and safety issue. At the same time, by purchasing the shares of Inčukalns Underground storage and transmission system operator the aim of the country is to continue the way towards the formation of regional gas market of the Baltic States and Finland to 2020.