Vilnius, Lithuania, 2012-05-28 14:09 CEST (GLOBE NEWSWIRE) -- On 28 May 2012, the Board of Directors of AB Lietuvos Dujos (hereinafter referred to as “the Company”) approved the Description of the methods for the unbundling of the Company’s gas transmission activity and control and gas distribution activity together with the unbundling action plans (hereinafter referred to as “the Description”). The Description provides that the Company’s natural gas transmission activity will be legally, functionally, and organizationally unbundled by establishing a new transmission system operator company by 31 July 2013 and that unbundling of control over the transmission activity will be implemented and the Company’s natural gas distribution activity will be legally, functionally, and organizationally unbundled by establishing a distribution system operator subsidiary by 31 October 2014.
The members of the Company's Board of Directors V. Golubev and K. Seleznev voted for the approval of the Description with reservation.
In accordance with the requirements of legal acts of the Republic of Lithuania, the Company will submit the Description to the National Control Commission for Prices and Energy within the time limits established, i.e. by 31 May 2012.
Authorised person:
Saulius Bilys
Head of Strategic Development Division
Tel. +3705 236 01 46