TEGOS advised AB Amber Grid, an operator of the Lithuanian natural gas transmission system, responsible for the transmission of natural gas to consumers and the operation, maintenance, and development of infrastructure, in the negotiation and amendment of the natural gas transit agreement with PJSC Gazprom. In late 2015 AB Amber Grid and PJSC Gazprom entered into an agreement on the natural gas transit to the Kaliningrad Region of the Russian Federation through the territory of Lithuania that was valid until the end of 2025.
Our team – Vilius Bernatonis, Dr. Paulius Zapolskis, Augustinas Razumas and Deividas Jokšas – provided comprehensive support to the Client on all matters related to the amendment and extension of the natural gas transit agreement, including revision of the initial agreement and provision of mandatory adjustments, evaluation of the effect of the national and international sanctions towards russia and PJSC Gazprom and their related entities. When designing and adjusting the new natural gas transit agreement, our team had to exercise an extreme level of precision and caution, as due to the nature of the counterparty of the agreement, the high level of comfort and risk management was non-negotiable for our Client.
