February 02, 2011 [Ventbunkers] - After the second meeting on January, 28th, in Zurich, between Ventbunkers (VBU) and Litasco, ended with no results, VBU has decided to apply to the Latvian Government to help to resolve what has become a problem of national interest, as the fuel oil export through Latvia is blocked and Russian and Belarusian refineries have to reduce production.
According to the press releases of Ventbunkers, the Litasco CEO Sergey Chaplygin arrived earlier this week with other Litasco managers in Latvia. So far they have met with the Minister of Justice Aigars Stokenbergs. They also have been planning to meet the Minister of Economy Artis Kampars during their visit. At the same time they were meeting numerous journalists and instead of meeting with VBU management they decided to speak with the press and politicians.
Rudolf Meroni, Chairman of VBU Supervisory Board: “Chaplygin and his team failed to push us into a corner in Zurich. They would only agree to lift their 120’000 MT of fuel oil, if Ventbunkers would pay for all the damage Litasco has caused. We easily speak about 5 to 10 million Euros so far. At the same time they continue to hide more than 20 million Euros owed to Ventbunkers that they paid to a hidden account. Now they come to Latvia, looking to spread false allegations to government officials including the Minister of Justice, the Minister of Economy and to the press. Ventbunkers is a Latvian company governed by Latvian law and will not be intimidated by strong-arm tactics of a Lukoil subsidiary. Perhaps these blackmailing tactics work elsewhere. The Latvian public and the politicians will see right through them.”
“It is difficult to understand what they are trying to achieve. Journalists have been calling me all day asking if it is true that Ventbunkers does not release Litasco’s fuel oil. This is entirely false. Let me repeat what has been said previously,” said Ventbunkers Media Director Aivars Gobins. “Mr. Chaplygin, come and take your fuel oil from our reservoirs. Today! We have a ship in the port. Just file the papers and get out of Ventbunkers terminal. Stop this childish game. It is costing everyone millions!”
Two meetings with the representatives of Litasco ended last week with no results. “First they refused to meet our team of Ventbunkers representatives, and then they avoid discussing the issues that could solve the problem. Mainly, where are the 20 million they claim having paid for services? We have not received these payments. Secondly, when will they send a ship to lift their fuel oil? They just refuse to address these issues. Unprofessional behavior,” said Gints Laivins-Laivenieks, Member of the VBU Supervisory Board.
According to the Ventbunker’s statement, VBU is preparing to move the fuel oil onto floating storage, while Litasco realizes this and tries to put pressure on the Latvian government to halt this action.
