Published: Dec. 21, 2010 at 8:46 AM
RIGA, Latvia, Dec. 21 (UPI) -- Natural gas from Russian will cost the Latvian gas company Latvijas Gaze much less in 2011 than it did during the current year, Gazprom said.
A new contract set to go into force Jan. 1 cuts natural gas prices to Latvian consumers as much as 7 percent and as much as 5 percent for industrial customers, Russia's news agency ITAR-Tass reports.
Latvijas Gaze is the only gas distribution company in Latvia. The company signed a deal in February with Russian gas monopoly Gazprom for guaranteed gas shipments through 2030.
Representatives from Estonia, Latvia, Lithuania and Poland said after meeting with delegates from the European Union in early December that the Baltic Energy Market Interconnection Plan, a plan to integrate Baltic energy markets with the EU, was on their immediate radar.
BEMIP initiatives were launched in 2008 by the European Council in order to fully integrate the Baltic energy market into the eurozone and strengthen interconnections with neighboring countries.
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Source: "Natural Gas Prices" via Glen in Google Reader
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