Latvia to Split its Natural Gas Utility in Early 2017

Latvia's government agreed on Tuesday to split its natural gas utility Latvijas Gaze in two at the beginning of 2017 as a step towards gas market liberalization.

"The government took a very important decision today, which will ensure both safe gas supplies as well as better prices for our consumers," Economy Minister Dana Reizniece-Ozola told reporters after a cabinet meeting.

According to the plan Latvijas Gaze would be split into two companies, one to sell gas and operate a distribution grid and the other to transport and store gas.

Reporting by Aija Krutaine