In 9 months of the year 2009, “Latvijas Gāze” Joint Stock Company (hereinafter – LG) sold to consumers 970 million m3 of natural gas. In comparison to the respective period of 2008, the natural gas sales have decreased by 13.2 %.

The decrease of natural gas consumption in 9 months of 2009 has been caused by the temperature as well by more economical use of resources and decisions made by natural gas consumers to decrease business activities because of the global financial crisis and the decreasing growth pace of the national economy of Latvia.

In 9 months of 2009, consumers were sold natural gas and provided services for LVL 238 million, which is by 12.5 % more than in the respective period of 2008. The rise of income stems from the increase of natural gas tariffs over the previous period.

LG completed 9 months of 2009 with a profit of LVL 5,8 million. Over 9 months of 2008, the company suffered losses of LVL 0.3 million, as the Public Utility Commission had not approved the new natural gas tariffs by the planned date. The profit of 9 months of 2009 corresponds to the profit of the respective periods of 2007 and 2006.

Within the framework of the capital investment programme, LVL 9.9 million were utilized in 9 months of 2009. The funds of investment were mostly used 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