December 27, 2017 / 1:44 PM / 3 years ago

Latvian government buys additional 16.05 pct in Conexus Baltic Grid

RIGA, Dec 27 (Reuters) - The Latvian government has bought an additional 16.05 percent stake in natural gas transmission and storage operator Conexus Baltic Grid from Itera Latvija, a subsidiary of Russia’s Rosneft, state-owned power transmission system operator Augstsprieguma Tikls, said on Thursday.

The deal, which was concluded on Dec. 19, increases the government’s share in the operator up to 34.36 percent.

Conexus operates the Incukalna underground natural gas storage, the largest in the Baltic states. The company was spun off from Latvijas Gaze at the end of last year and is 34-percent owned by Russia’s Gazprom. (Reporting by Gederts Gelzis, edited by Johan Sennero and Terje Solsvik)

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