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 Joint Stock Company “Latvijas Gāze” and the Latvian branch of "OP Corporate Bank plc" have agreed upon an early termination of the credit line (overdraft) contract signed on September 22, 2017.
Compensations will be applied for the period from July 1, 2022 to April 30, 2023. 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.
In order to reduce the impact of increase in the price of energy resources, the government has decided to compensate the increase in the price of natural gas not only for residents, but also for consumers in buildings where the contract with the natural gas trader is held by the building manager or another legal entity. The state aid can be received by the owner, manager, project developer of multi-apartment residential buildings, terraced houses, where natural gas is used by households within the framework of mutual contractual obligations.
Latvijas Gāze group reached historically strongest financial performance in the first quarter of 2022, which is attributable to disciplined trading and risk management strategy in 2021.
Colder temperature during heating season and significantly higher natural gas prices were the two main factors, which influenced the Latvijas Gāze performance in 2021. Colder temperature increased Latvijas Gāze sales and utilization of Gaso distribution network.