In 3 months of 2010 the Joint Stock Company „Latvijas Gāze” (hereinafter – LG) sold to consumers 757 million m3 of natural gas, which is by 28 % or 167 million m3 more than it had been budgeted and by 28 % more than in the respective period of 2009. The increase of natural gas consumption among both industrial and residential customers during the 3 months of 2010 stems from the protractedly low air temperature.

In the 1st quarter of 2010, consumers were sold natural gas and provided services for LVL 127 million, which is by 18 % less than in the respective period of 2009, still by 29 % more than planned in the budget of 2010. The fall of income towards the respective period of 2009 stems from the industrial users and residential customers being applied the discriminative natural gas sale end tariffs in the 1st quarter of 2010. These tariffs corresponded to the natural gas sale price, which was by 83 % lower than in Q1 of 2009. The income, compared to 2009, decreased both from industrial and household customers. The income from transmission and storage, for its part, increased, as other countries used the services of the Inčukalns UGS more intensively due to the cold weather, as well as there were higher tariffs of natural gas storage in the 1st quarter of 2010.

The Company’s net profitability of business activity in the 1st quarter of 2010 was 5.3 %, and LG completed 3 months of 2010 with a profit of LVL 6.7 million, which is by 17.5 % higher than in the respective period of 2009 when the profit amounted to LVL 5.7 million.

Within the framework of the capital investment programme, LVL 1.4 million of investment funds were taken up over 3 months of 2010. The funds were mostly spent on the construction of new gas pipelines and the renovation of existing ones, as well the reconstruction of engineering buildings and constructions.

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