Lithuanian gas company Lietuvos Dujos reached an accord with Russian Gazprom regarding "significant" reduction on natural gas import price for the Baltic country, the company said Thursday.
This agreement finalized "long-running and complex negotiations between Lietuvos Dujos and Gazprom," the Lithuanian gas supply and distribution company said.
According to its statement, the basic pricing principles of gas supply have been set in the agreement which will be in force until Dec. 31, 2015.
The company didn't announce the exact new price of the Russian gas.
But Lithuania's Prime Minister Algirdas Butkevicius once said that 20 percent reduction would be a "fair price" for Lithuania.
So far, Lithuania has been paying Gazprom at a price of around 480 U.S. dollars for 1,000 cubic meters of gas.
Lietuvos Dujos imports approximately 40 percent of the total amount of gas in the Lithuanian market.
http://www.neurope.eu/article/lithuania-reaches-accord-russia-gas-price-reduction