In 2020, Latvijas Gāze group succeeded in attaining a positive result despite the challenges brought on by the market conditions. Relatively mild air temperatures, strict restrictions due to the spread of the coronavirus, and low level of natural gas prices were the main factors shaping the operating environment for the JSC “Latvijas Gāze”. Generally, the air temperature remained above the long-term seasonal average during winter months, affecting the demand for natural gas in the heating segment in particular. Substantially higher summer-winter spreads compared to the regulated charge for storage capacities led to a high demand for storage services, consequently making the JSC “Latvijas Gāze” have less storage available compared to 2019. Furthermore, maintenance of the natural gas transmission systems limited the possibilities of rerouting and optimising natural gas flows.
In 2020, the JSC “Latvijas Gāze” sold 11 896 GWh of natural gas to customers in
The Group’s net turnover in 2020 reached
The JSC “Latvijas Gāze” in 2020 continued to invest towards improving the effectiveness and efficiency of core business and customer care processes. In total the JSC “Latvijas gāze” invested approximately
Audited Annual report is published in PDF format. The financial statements are also published in iXBRL format in accordance with the European Single Electronic Format (ESEF) reporting requirements. In accordance with ESEF requirements, the primary statements of the financial statements are marked with XBRL tags. The ESEF financial statements are available in the zip file attached to this release.
Latvijas Gāze Group’s Unaudited Consolidated Interim Condensed Financial Statement for 3 months of 2021 are due to be published on
*More detailed information on the alternative performance measures can be found on page 16 of the annual report.
Additional information:
Romāns Tjurins
Vice President Finance
Phone: + (371) 67 369 139
E-mail: investor.relations@lg.lv
www.lg.lv
Attachments
- IFRS Latvijas Gāze ANNUAL REPORT 2020
- KPZ_2020_FINAL_EN
- KSAZ_2020_FINAL EN
- REMUNERATION REPORT 2020
- latvijasgze-2020-12-31
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