Republic's Independence Questionable

'Gazprom's acquisition of shares in Lithuanian Gas by Gazprom is a serious step towards the economic integration of Russia and Lithuania,' according to the Chairman of the State Duma Committee on Power Engineering, Transport and Communications and the president of the Russian Gas Society Valeriy Yazyev.

The transfer of 34 per cent of shares in Lithuanian Gas to Gazprom is now complete. According to Yazyev, today's contract is an essential element in the revival of the economic interrelation between Russia and Lithuania. "It is a very important acquisition for Gazprom. As a result, Gazprom gets an opportunity not only to sell gas but also to sell electricity as well as to distribute and sell gas on the territory of Lithuania," Yazyev said.

According to Yazyev, the Lithuanian economy is 100 per cent supplied by Russian gas. By signing the agreement today Gazprom will become the third owner of the Lithuanian gas sector along with the state property fund of Lithuania and German concern Ruhrgaz.