Exec Brushes Off Speculation of Price Hike in Natural Gas ({{commentsTotal}})


A Lithuanian newspaper report on Wednesday that claimed Latvia and Lithuania face a major natural gas price hike next year was called untrustworthy by Eesti Gaas executive Raul Kotov.

He said gas prices will probably not rise in Estonia next year because competition will not permit it, reported Postimees.

Eesti Gaas, in which Russia's Gazprom has a major stake, renews its price agreement with Gazprom each year. A contract for this year has yet to be reached.

Although Eesti Gaas has a monopoly in Estonia, Kotov said the company is feeling pressure from other power sources.

"Considering the competition situation, there is no reason to raise the price in 2014," he said.

The Lithuanian newspaper Verslo Zinios reported on Wednesday that the price of natural gas may rise by as much as a quarter in Latvia and Lithuania next year.

"I would be very careful with that article because price negotiations are currently being carried out in Lithuania," Kotov said.

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long


Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.