In February, the JSC “Latvijas Gāze” concluded new natural gas supply agreements with “Gazprom” and “Itera Latvija”. The new agreements guarantee the gas volumes necessary for Latvia till the year 2030, which is very important for the country’s long-term energy supply. Previously the agreements covered a period extending to the year 2015.

The natural gas supply agreements stipulate the guaranteed gas volumes, whereas on the prices of the supplied natural gas there shall be separate contracts signed. Long-term natural gas supply agreements for 20-30 years are widespread in the Western Europe as they give security to consumers’ long-term investments into gas supply technologies and infrastructure.

The new agreements were started preparing in the summer of 2008.

Vinsents Makaris
+371 67 369 144
IR@lg.lv