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“If Gazprom would not go away, our business would only shrink” – Latvijas gāze Kalvītis’s headofLatvijas

"Если бы "Газпром" не ушел, наш бизнес только бы сжимался" — глава Latvijas gāze Калвитис

Having Gazprom as a shareholder after the first invasion of Russia in Ukraine has become a bond, not a help for the business of Latvijas gāze (LG), because with this owner the company could not participate in public purchases. But the giant from the RF is no longer, and the enterprise feels comfortable, said Chairman of the Board of LG Aigar Kalvitis in the program “Open talk” on Latvian radio 4, reports rus.LSM.lv. “After the first full-scale war [in Ukraine] the presence of large shareholders from the Russian Federation created big restrictions. We were under restrictions we were forbidden to participate in public tenders. So we have lost the market of the public sector. I’m talking about self-governments, government enterprises, heat grids and so further…But now, when, in principle, the
control over Latvijas gāze is established, we have returned to the market. And we feel pretty comfortable, ”
Aigar Kalvitis said. His words, if the shares of Gazprom were not bought back, the LG market would probably all decrease and would decrease would. The deal of which Kalvitis says Kalvitis was known last autumn: Gazprom, which owned 34% of LG, sold its package to a specialized enterprise of the members of Energy Investments and
Lithuanian UAB Haupas. After this deal (which was preceded by the repurchase of 28.97% of the shares previously owned by the Luxembourg investment fund Marguerite Gas II S.À.R.L)
Marguerite Marguerite Gas II S S S Latvian citizens were in the majority at the meeting of LG shareholders. According to Kalvitis, two other other large shareholders of Latvijas gāze – also intend to sell their
stakes in the German Uniper Ruhrgas International GmbH and Latvian ITERA Latvija. “So.I think that, I think in the next half year that the management buyout process will be completed, and Latvijas gāze will have new shareholders,” Kalvitis said. When asked whether Latvijas gāze is expecting to regain older positions, he said: “We are already returning large clients. Naturally, today’s situation is changing quickly,
because the customer can choose the supplier at any time. So that to say that to return everything that was with Latvijas gāze before, is impossible. But new clients are coming in. So… business is a movement.” He also
noted, that now the enterprise is after that, having been separated and sold Conexus (owner of the backbone gas pipelines and manager of the Inchukalnske gas reservoir) and Gaso (operator of the distribution network) there is no need to attract new large investors. “Latvijas gāze is today a purely trading company.

Our onlytechnicalassetsareourofficebuilding.Wehavenosuchtechnicalfacilitiesthatweneedtoinvesttensofmillions.”For atradingcompanythe main thingistohaveclientsandcurrentcapital.”We have nocomplaints aboutthat,” Kalvitis assured.

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