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. Last Updated: 07/27/2016

Gazprom Nears Deal With Lithuania

VILNIUS, Lithuania -- Lithuania and gas giant Gazprom are close to a deal in the state sale of a 34 percent stake in national utility Lietuvos Dujos, the parties said Friday, but added that the price was still not agreed.

"Today we essentially resolved all the issues, the only remaining one is price," deputy Gazprom head Alexander Ryazanov told a news conference.

The deal has been postponed twice over pricing, but the parties came back to the table after Gazprom said last week it would seek to boost gas supplies to Lithuania by 21 percent with the Lietuvos Dujos deal.

"Negotiations about the price for the 34 percent stake could drag out until Feb. 28, but I think we can agree on this within about a week," Lithuanian Prime Minister Algirdas Brauzauskas said.

"The price we are asking is 116 million litas [$36.35 million], but we are not going to call off a big privatization like this over 5 million litas or so," he said.