Gazprom, a Russian gas giant, will participate in the privatization of Lietuvos Dujes (Lithuania) and announced the full compliance with the criteria listed in the privatization materials, according to the press service of the Russian gas supplier. As it was reported earlier, the second stage of the privatization of Lietuvos Dujos, a Lithuanian gas company, started on June 12, 2002. Among other things, it envisages the selling of 34 percent of the company's shares. The privatization program stipulates that the applications should be submitted by the tender participants on July 15-16, 2002, while the preliminary tender proposals should be submitted on September 10-11, 2002, and the final proposals - on November 11-12, 2002.
The signing of the contracts and the completion of the transaction, if everything is kept in line with the schedule, are slated for the end of this year. After this tender the Russian government will retain a 24.36 percent stake in the company, while private investors will have 68 percent of the shares of the Lithuanian gas company. The first stage of the privatization was completed by selling 34 percent of shares of Lietuvos Dujes to Ruhrgas and E.ON Energie for $33.8 million.