In 12 months of the year 2008, the Joint Stock Company “Latvijas Gāze” sold to consumers 1 631 million m3 of natural gas. In comparison with the respective period of 2007, the natural gas sales have decreased by 2.5 % (42 million m3).

Natural gas consumption in 2008 was influenced by the relatively high air temperature in the 1st and 4th quarter of 2008, more economical use of resources due to the high tariffs and the decisions by consumers upon limitation of entrepreneurship due to the global financial crisis and the recession of the national economy of Latvia.

Over 12 months of 2008, consumers have been sold natural gas and provided services for LVL 351 million, which is by 46.6 % more than in the respective period of 2007.

Also in the reporting year there was a decrease of the net operating profitability – in 2007 it was 13.5%, while in 2008 only 5.5%. The JSC “Latvijas Gāze” completed the 12 months of 2008 with a net profit of LVL 19.4 million, which is by 40% or LVL 12.9 million lower than in the respective period of 2007 when the profit was LVL 32.3 million.

Within the framework of the capital investment programme, LVL 22.8 million have been taken up over 12 months of 2008. The funds of investment have been mostly spent for the modernization of technological equipment and the construction of new gas pipelines.


Vinsents Makaris
phone + (371) 67 369 144
e-mail: IR@lg.lv