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.
Due to the expiration of the term of office of three Board members in August 15, 2021, Latvijas Gāze makes changes in the composition of the Board which will take effect on August 16, 2021.
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.
The research carried out for the sixteenth time, and the subsequently created "Most Loved Baltic Brands Top", highlights the most valued brands in Latvia and the Baltics. This Top helps companies gain insight into public opinion and find out how their brand is valued. In the process of creating the Top, more than 500 popular brands are researched and evaluated within different categories.
The first half of 2020 has brought even more dynamic and challenging environment for the world and the energy industry. Mild temperatures, the lockdown measures connected to the spread of the coronavirus and low natural gas price levels were the key factors shaping the operating environment of the Latvijas Gāze.