In 6 months of the year 2008, the Joint Stock Company “Latvijas Gāze” sold to consumers 897.3 million nm3 of natural gas. In comparison to the respective period of 2007, natural gas sales have decreased by 5.0%, as well as there is by 3.8% or 35.7 million nm3 less natural gas sales than it was planned in the budget.

The decrease of natural gas consumption in 6 months of 2008 is related to the atypically high air temperature in the 1st quarter of 2008.

The gas injection season at the Inčukalns UGS was started on April 19, 2008. At commencement of natural gas injection, the reserves of active gas at the Inčukans UGS were 404.9 million nm3, incl. 120.3 million nm3 for the needs of Latvian consumers.

It is planned to inject 1 920 million nm3 of natural gas at the Inčukalns UGS in 2008, reaching 2.32 billion m3 of active gas at the end of the injection season. As at the end of the reporting period, the total natural gas injection plan had been executed by 40.5 %.

In 6 months of 2008, consumers were sold natural gas and provided services for LVL 163.6 million, which is by 47.8% more than in the respective period of 2007, still by 7.2 % less than it was planned when preparing the updated budget.

JSC “Latvijas Gāze” completed 6 months of 2008 with a profit of LVL 0.64 million, which is by 90.1 % less than in the respective period of 2007, when the profit was LVL 6.5 million.

Within the framework of the capital investment programme, LVL 10.3 million were utilized in 6 months of 2008. The funds of investment were mostly used for modernization of technological equipment and construction of new gas pipelines.

JSC Latvijas Gāze has announced a closed price survey on awarding of a credit line at the amount of EUR 50.0 million envisaged for settlements for natural gas with the suppliers for the natural gas consumed in the summer of 2008.

Commercial representative
Vinsents Makaris