Latvia buys Rosneft’s 16.05% stake in gas system operator

RIGA, Dec 27 (PRIME) -- Latvian state power grid company Augstsprieguma tikls (AST) have signed a deal with Itera Latvija, a subsidiary of Russian oil major Rosneft, to buy a 16.05% stake in Latvia’s natural gas storage and transportation system operator Conexus Baltic Grid, AST said in a statement on Wednesday.

The sum of the deal and its conditions were not disclosed.

After the deal, the Latvian government owns 34.36% in Conexus. The acquisition will improve Latvia’s energy safety and independence, the company said in the statement.

End