Published: 2014-11-27 15:11:08 CET
Latvijas Gāze
Quarterly report

Unaudited Financial Report of 9 months of 2014

In 9 months of the year 2014, the JSC Latvijas Gāze sold to the consumers 863 million m3 of natural gas. In comparison with the respective period of 2013, the natural gas sales decreased by 17.5 % due to the differences in outdoor air temperature and investments by heat supply companies in the use of renewable energy resources and a partial replacement of fossil fuels with woodchip.

The natural gas withdrawal season in 2014 was longer than planned because due to urgent repairs on the gas transmission pipeline Torzhok-Valdai, a natural gas feed from the Inčukalns UGS was necessary till 23rd May. Despite the delay of the injection season, the Inčukalns UGS was filled in time, as this year, due to the mild winter, the volume of gas to be injected was lower.

The injection season at the Inčukalns UGS was completed on October 23, 2014, with 2 300 million m3 of active gas present at the end of the season.

Over 9 months of 2014, the consumers were sold natural gas and provided services for EUR 333.6 million, which is by 20,2 % less than in the respective period of 2013.

The decrease of income year-on-year stems from the lower natural gas sales volume and fact that during 9 months of 2014, due to changes in oil product quotations and currency rates, the residential and industrial customers were applied differential natural gas sale end-user tariffs corresponding to a natural gas sale price 6.8 % below that of the 9 months of 2014. The income saw decrease both in the industrial and household sector.

JSC Latvijas Gāze completed 9 months of 2014 with a profit of EUR 12.9 million, which is 7.2% lower than in the respective period 2013 when JSC Latvijas Gāze profited EUR 13.9 million.


Vinsents Makaris
Phone + (371) 67 369 144