The 14th Baltic Gas Market Forum took place in Tallinn on 25 May this year, where participants reported on the latest developments in the Baltic and Finnish gas markets, talked about infrastructure development projects and shared information on the latest developments in the Baltic and Finnish natural gas markets.
The conference, organised by Dienas Bizness on 11 May this year, brought together industry companies, experts and representatives of institutions to discuss the development of the energy sector in the coming years that should contribute to Latvia's energy security and independence.
The JSC “Latvijas Gāze” has a long-term agreement with the PJSC “Gazprom” on natural gas supplies in 2000-2030. So far, as stipulated by the agreement, payments for supplies have been made in the EUR currency.
Following a detailed audit procedure, EcoVadis, which is one of the world’s largest and most trusted providers of business sustainability ratings, has repeatedly awarded the Silver Award to the Latvijas Gāze Group. Compared to the previous year, the rating of this year has improved, surpassing the industry average by 9%.
Against the background of the geopolitical situation and its substantial impact on the natural gas market, the April natural gas price in Europe is currently forecast at around 250-300 EUR/MWh.
In the wake of the energy crisis across Europe, the government has decided to compensate for the increase in the price of natural gas for citizens with annual natural gas consumption above 250 m3. Compensation will be applied for the period from January to the end of April 2022. Households do not need to apply for state aid; the reduced fee will be included in the billing documents automatically in accordance with the amount determined by the state.