Gas Executives Collar PM Regarding Pipeline Divestment
Estonia's reputation as a foreign direct investment-friendly country could suffer if it follows through on its plan to make Eesti Gaas divest itself of its infrastructure, said shareholders' representatives in a letter to the prime minister.
EON Ruhrgas International executive Peter Frankenberg and member of the Fortum management board Per Langer said that the government's intention to separate gas sales from transmission and distribution, which it says is based on an EU requirement, is a breach of shareholders' property rights and investment protection agreements signed with partner countries.
The heads of the companies also requested a meeting with Ansip to voice their criticism in person.
Gazprom, the largest shareholder in Estonia's gas monopoly Eesti Gaas and its sole supplier, did not co-sign the letter. Eesti Päevaleht's sources said that it wishes to avoid possible negative press due to already tense relationships with Estonia.
Gazprom holds 37.02 percent, EON has 33.66 percent and Fortum controls 17.72 percent of Eesti Gaas.
Kristopher Rikken