Latvi­jas Gāze: clients out­side Latvia were sold 9% of last year’s to­tal gas vol­ume

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«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.


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