Skip to main content

Regarding the initiation of the VERT sanctioning procedure

Written by Customer Service on . Posted in Public Companies.

AB Amber Grid, legal entity code: 303090867. Address: Laisvės ave. 10, LT-04215 Vilnius, Lithuania.

Amber Grid has received a notification from the State Energy Regulatory Council (VERT) that VERT has initiated a sanctioning procedure against Amber Grid due to the non-conformities identified in the GIPL construction inspection report.

No decisions have been made regarding the imposition of a sanction or its amount. According to the Natural Gas Law, the sanction can range from a verbal warning to 10% of Amber Grid regulated activities in 2023 income.

Despite filing a court complaint against the VERT inspection act, Amber Grid is cooperating with VERT. Amber Grid has implemented the obligations of the decision on the GIPL inspection act adopted by the VERT in April, without delay. In June Amber Grid submitted VERT documents regarding the performed GIPL security inspection procedures.

Amber Grid has provided information on the research, expertise, tests, and conclusions made by independent experts regarding the safety of the GIPL gas pipeline, which confirm the compliance of the gas pipeline with the established safety requirements.

During the evaluation of the information provided by the VERT, there is regular cooperation between the regulator and the company, providing additional documents and performing new tasks of the VERT.

More information:
Laura Šebekienė, Head of Communications of Amber Grid,
Ph. +370 699 61 246, e-mail: l.sebekiene@ambergrid.lt

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.