Taking into consideration significant natural gas price increase and the need to ensure security of supply for the upcoming winter, JSC Latvijas Gāze has concluded amendments to the existing overdraft agreement with OP Corporate Bank plc.
In 2020, Latvijas Gāze group succeeded in attaining a positive result despite the challenges brought on by the market conditions. The Group’s net turnover in 2020 reached 190.5 million EUR, EBITDA amounted to 26.5 million EUR. The Group’s net profit for 2020 was 11.2 million EUR.
In order to provide financing for the purchase of natural gas for the next two natural gas injection seasons, Latvijas Gāze has entered into a new credit line agreement with the Latvian branch of OP Corporate Bank plc, thus continuing their cooperation.
Jēkabpils is one of the first towns where commercial vehicles run on CNG. According to chairman of the board of SIA ‘Jēkabpils autobusu parks’ Jānis Ščerbickis, the renovation of their bus fleet with seven CNG vehicles in Jēkabpils has made it possible to maintain the bus fare at the current level (0.50 euros), and to preserve various discounts and benefits, such as free bus rides for schoolchildren.
In order to choose the most suitable alternative fuel for a climate-neutral future, during the life of the vehicle, it is essential to consider emissions from the entire fuel extraction, production and consumption cycle, not only the direct emissions of the vehicle.
When analysing different types of fuel, several important factors shall be taken into account: energy efficiency by transferring primary energy resources into motion, overall environmental impact, and the availability of the resources. It is most important to use the well-to-wheel principle for comparison between all types of vehicles, i.e., to cover the entire fuel production chain, not just the environmental impact of fuel consumption in a car.
Financial support can be obtained for switching over to more eco-friendly road vehicles. According to Reinis Bērziņš, chairman of the board of the ALTUM development finance institution, its business energy efficiency programme includes financing the renovation of road vehicle fleets using greener vehicles, including those using CNG as fuel.