Latvijas Gāze: clients outside Latvia were sold 9% of last year’s total gas volume
«Revenue under natural gas price has declined 11% compared with the previous year and was EUR 392.3 million. Nevertheless, thanks to sales volume, EBITDA has grown 11% to EUR 76.5 million. The company’s net revenue was EUR 37.5 million last year,» Latvijas Gāze reports, commenting on last year’s results.
The company notes that low price level was present on the gas market in 2016. This helped increase sales volume by 14%. «Results were accomplished thanks to commencement of natural gas trade in neighbouring countries, which was a strategic step made by Latvijas Gāze towards market liberalization,» a representative of the company notes.
Clients outside of Latvia were sold 132 million m3 or 9% of the total volume of gas sold in 2016. Latvian consumers were sold 1.375 million m3 of natural gas (4% more than was sold in 2015).
The investment volume in 2016 remained on the level of previous years and was EUR 29.6 million.
At the same time, revenue gained from divided transmission and storage services declined by EUR 2.1 million in 2016. This can be explained with the decline in storage volumes and tariffs, which haven’t changed since 2008. Latvijas Gāze is actively preparing for the gas market liberalization on 3 April. In March, legal persons will receive offers on future cooperation. Households will be able to keep receiving natural gas at current tariffs approved by the Public Utilities Committee. Latvijas Gāze’s tariff outlook for March state that industrial consumers will pay 192.09 EUR/m3 starting from that month in 2017. Tariffs change for industrial clients every month. Tariffs from households change twice a year – 1 January and 1 July. Tariffs change depending on natural gas procurement price, LG reports.