In 12 months of 2007, the Joint Stock Company “Latvijas Gāze” sold to consumers 1.67 billion m³ of natural gas, which is by 2.7% less than in the respective period of 2006. It has decreased due to milder weather conditions in the 1st and 4th quarter of 2007.

 

In 12 months of 2007, customers have been sold natural gas and provided services for LVL 238.4 million, which is by 23.9% more than in the respective period of 2006, and LVL 32.3 million have been profited, which is by 35.6% more than in the respective period of 2006.

 

The profit has increased mostly due to gas reserves located at the Inčukalns UGS for the price of 2006 for consumption in 2007. Since the natural gas consumption in the 1st quarter of 2007 fell behind the planned, this gas was supplied to consumers in the 4th quarter when the actual six-month quotation of heavy fuel oil was considerably higher.

 

Also in 2007, there were reserves purchased at the Inčukalns UGS for the heating season of 2007/2008. Thanks to this purchase it was possible to lower the tariffs as of January 1, 2008. For the first two consumer groups, including households, the tariffs grew by 13% (instead of the planned 31%), whereas for the major consumers they even decreased by 10 – 13% (instead of an increase by 4 – 5%). For purchasing these reserves, a loan of EUR 28.5 million was taken.

 

Within the framework of the capital investment programme, LVL 29 million have been utilized during the 12 months of 2007. The funds have been mostly used for modernization of technological equipment at the Inčukalns UGS and the transmission system, as well as for construction of new gas pipelines.

 

Natural gas injection into the Inčukalns UGS was commenced on April 16 and ended on October 10. At commencement the reserves of active natural gas at the facility were 1.14 billion m³. During the injection season, 1.18 billion m³ of natural gas were injected, reaching 2.32 billion m³ of active gas at the end of the season. In 2007 (the 1st and 4th quarter), 1.47 billion m³ of natural gas were supplied from the facility to consumers.