Latvia produces no oil or gas domestically and is entirely dependent on imports. Gazprom holds a 34% stake in Latvia's Latvijas Gaze. Latvijas Gaze has a virtual monopoly on the import, transmission, and distribution of gas in Latvia; this situation should not change until market liberalization is slated to begin in 2007. Gazprom supplies a large portion of the country's gas, accounting for more than 80% of Latvia's natural gas imports. Gazprom will remain the country's primary gas supplier because of a long-term supply deal between Latvian Gaze and Gazprom.
