Over the reporting year, the users were supplied with 1 464.1 million m3 of natural gas. In comparison with 2011, natural gas sales in m3 fell by 6.2%. The decrease of natural gas sales stemmed from the deviations in air temperatures, as well as the investments of heat supply companies in the use of renewable energy sources and partial replacement of fossil fuels with woodchip. The changes in natural gas retail prices in 2012, comparing with 2011, were influenced by oil product quotations at the stock exchange, currency rates and gas supply flows.

In 2012, the JSC Latvijas Gāze sold natural gas and provided services to customers for LVL 427.4 million (EUR 608.2 million), which is 21% more than in respective period in the year 2011; the expenditures (excluding administrative expenses) amounting to LVL 394.7 million (EUR 561.6 million) and the gross profit – LVL 32.7 million (EUR 59.5 million). The changes in the structure of net turnover resulted from changes in the natural gas sales volume and the natural gas sale price, as well as the increased efficiency of usage of the Inčukalns Underground Gas Storage Facility (hereinafter – Inčukalns UGS).

Over the season of 2012, 2.2 billion m3 of natural gas was injected into the Inčukalns UGS and 2.82 billion m3 was withdrawn. Compared with the season of 2011, the volume of natural gas injected fell by 2.8%, because after the 2011/2012 heating season end there was 144.7 million m3 of gas left in stock; whereas that of natural gas withdrawn grown by 12.7%.

The JSC Latvijas Gāze completed the year 2012 with a net profit of LVL 22.9 million (EUR 32.6 million), which is LVL 4.3 million (EUR 6.1 million) or 15.8% below that of 2011 – LVL 27.2 million (EUR 38.7 million). The net profitability of business activity was 5.4% in 2012 and 7.7% in 2011.

In 2012, the JSC Latvijas Gāze invested LVL 19.2 million (EUR 27.3 million) in the modernization of the gas supply system and the creation of new fixed assets. 27.2% of the total investment was spent on the modernization of gas transmission pipeline system, 30% – on the improvement of operation safety and the modernization of equipment at the Inčukalns UGS, and 35.3% – on the expansion of distribution networks and the renewal of fixed assets. The total number of gas-enabled objects at the end of the year reached 443.1 thousand.

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