The Estonian state-owned electricity system operator Elering has expressed interest in principle to buy the natural gas distribution network belonging to Eesti Gaas, Elering CEO Taavi Veskimägi told BNS.
CEO: Elering keen in principle to buy Estonia's natgas network
31st January 2013, 11:25
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"Our interest in the gas network has existed from the time the amendment to the Natural Gas Act began to be discussed," Veskimagi said on Wednesday. "We have sent a letter to that effect, expressing our interest, to Eesti Gaas and are waiting for their answer," he added.
Veskimägi said Elering wishes to buy the gas network purely for economic reasons. "We do not wish to buy the gas network no matter what the price," said Veskimägi. "The price that we're going to offer will be established in negotiations, when it becomes clear what the gas network is worth, what technical shape it is in."
Under amendments to the Natural Gas Act adopted by the Riigikogu in June 2012, ownership of the gas distribution network must be separated from production and sales operations by the beginning of 2015. The privately held Eesti Gaas, one of the core owners of which is the Russian gas giant Gazprom, has asked the chancellor of justice to propose that the parliament change the law.
The natural gas distribution network of Estonia is run by EG Võrguteenus, a subsidiary of Eesti Gaas.