In 9 months of 2008, the Joint Stock Company “Latvijas Gāze” sold to consumers 1 127 million m3 of natural gas. In the respective period of 2007, 1 151 million m3 were sold.

The decrease in natural gas consumption in 9 months of 2008 is related to the atypically high air temperature in the 1st quarter of 2008.

In 9 months of 2008, consumers were sold natural gas and provided services for 211,7 million LVL. In the respective period of 2007, consumers were sold natural gas and provided services for 143,7 million LVL.

The JSC “Latvijas Gāze” completed 9 months of 2008 with losses of 0.28 million LVL, while the respective period of 2007 ended with a profit of LVL 4.88 million. Losses in 9 months of 2008 are related to the atypically high air temperature in the 1st quarter of 2008 and late natural gas tariff increase from October 1, 2008. Since May 2008 when customers began receiving gas directly from Russia instead of the Inčukalns Underground Gas Storage Facility, the JSC “Latvijas Gāze” paid for it in compliance with the provisions of the new contract with “Gazprom”, but the natural gas trade tariffs did not cover this purchase price.

Within the framework of the capital investment programme, 15,34 million LVL have been utilized in 9 months of 2008. The funds of investment have been mostly used for modernization of technological equipment and construction of new gas pipelines.


Commercial proxy
Vinsents Makaris
Tel. + (371) 7369144
E-mail: IR@lg.lv