”Lietuvos Energia” refused to sell Belarusian energy debt, worth $45mln. The Russian company “Vangvard”, without explaining the reasons, declined to sign a treaty on the payment of 55% of the debt’s size. Meantime, the European Union urges Lithuania to liquidate the debts within next 1,5 months.
Lithuanian government cancelled the results of the tender for the re-selling of “Belenergo” debt. The reason for such a sudden change of mind was the failure to fulfill its commitments by one of the winners of the tender.
According to the EU and WTO recommendations Lithuania bound herself with commitments to form by the year 2002 a market of energy supplies. From January 1 “Lietuvos Energia” will be divided into five independent companies.
“Belenergo`s” debt, estimated at $55mln. for the year 1998, became a stumbling block in the trade economic relations between the two countries. Following numerous attempts to sell the debt via a mediator, Lithuania turned down this idea. Top managers of the “Lietuvos Energia” aren’t willing to directly communicate to the concern, the reasons being the exceedingly high prices on the Belarusian product. Although, Belarus has maintained a unified ruble rate for a year, the Lithuanian energy companies remain under such a strong impression from the previous negotiations’ experience, that they decline any barter operations almost immediately. Over the three past years the debt’s size contracted by $10mln.
The Belarusian energy concern shouldn’t just leave things the way they are. An attempt to function through the operators of the Belarusian market will most likely be a success, given “Belenergo” keeps contact with companies, with which they may agree on re-selling the debt under conditions, which would be beneficial for the Belarusian energy system.
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