Latvijas Gāze ranks 20th in the TOP 101 of Latvia’s Most Valuable Enterprises

Latvijas Gāze is ranked 20th in the Top 101 of Latvia’s Most Valuable Enterprises, jointly developed by Prudentia, the leading Baltic corporate finance company, and Nasdaq Riga, the only regulated stock exchange in Latvia, and this year it is recognised as the second most valuable company in the energy sector in Latvia.

The TOP 101 of Latvia’s Most Valuable Enterprises is a socially significant initiative implemented by Prudentia and Nasdaq Riga since 2005. The initiative is based on the desire of the project's creators to stimulate public debate on the value of companies and the factors influencing it.

"2021 was a difficult and challenging year for Latvijas Gāze, with intraday natural gas price volatility on European exchanges reaching as high as EUR 10 per MWh. We gained a lot of experience and stood up to it, unlike some other European operators," says Aigars Kalvītis, Chairperson of the Board of Latvijas Gāze.

The Top of Latvia’s Most Valuable Enterprises helps reflect the value of a company's business, or the value of the future cash flows of the company's operations, to all of the company's financiers, including shareholders, members and financial creditors.

The electricity, gas, heating and air conditioning sector was the fourth largest sector in Latvia in terms of turnover last year. According to Lursoft data, the top industries with the highest turnover and profit in 2021 rank Latvijas Gāze seventh on the list. Although turnover increased last year to EUR 530.22 million.

Aigars Kalvītis notes, "The top result is not surprising, as the substantial increase in net turnover is mainly due to higher sales prices as a result of global natural gas market developments, as well as higher sales volumes in 2021. In 2022, we forecast significantly lower sales volumes and also a drop in turnover, due to the fact that customers have revised their natural gas capacities due to high natural gas prices and limited supply options".

Previous news

20.12.2022. | for households
Latvijas Gāze invoices can be paid at more than 700 sales points in Latvia

With the expansion of payment options, our customers can now pay for natural gas in 5 different retail chains across Latvia – Maxima, Narvesen, top!, Mego and eLats.

Read more
09.12.2022. | tariffs | for households
Changes in natural gas tariffs for households from 1 January

From 1 January to 30 April 2023, the price of natural gas for households using natural gas for heating will remain the same or even decrease, depending on annual consumption.

Read more
02.12.2022. | management | gas market
Latvijas Gāze participates in the Baltic Gas Market Forum

On 30 November of this year, the 15th Baltic Natural Gas Market Forum was held, which this year was organised by the Public Utilities Commission (PUC). These traditional regional meetings bring together energy regulators, market participants and policy makers from the Baltics, Finland, Sweden and Poland.

Read more