In 6 months of 2012, the JSC Latvijas Gāze sold to the consumers 837 million m3 of natural gas. Compared to the respective period of 2011, natural gas sales have decreased by 9.5 % and is 0.3% or 2.9 million m3 under the volume planned in the budget of 2012.

The gas injection season at the Inčukalns UGS began on April 25, 2012. Upon starting natural gas injection, the reserves of active gas at the Inčukalns UGS were 145 million m3. It is planned that 2180 million m3 of natural gas would be injected into the Inčukalns UGS in 2012.

Over 6 months of 2012, the consumers have been sold natural gas and provided services for LVL 239.6 million, which is by 22.2 % more than in the respective period of 2011 and by 0.9 % more than budgeted.

The rise of income over the respective period of 2011 has taken place because in the 1st half year of 2012 the industrial and residential customers were applied differential natural gas sale end-user tariffs corresponding to a natural gas sale price, which was by 34 % higher than in the 1st half year of 2011 due to quotations of the heavy fuel oil prices and changes in currency exchange rates. Compared to 2011, the income grew in both the industrial and the household customers sector.

The Company completed 6 months of 2012 with a profit of LVL 5.8 million, which is by 28.4 % less than in the respective period of 2011 when the profit amounted to LVL 8.1 million.

Within the framework of the capital investment programme, LVL 6.43 million of investment funds were spent over 6 months of 2012, mostly on the renovation of gas transmission and distribution pipelines, the modernization of technological equipment and wells.

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