OREANDA-NEWS. In 9 months of the year 2015, the JSC Latvijas G?ze sold to the consumers 863.4 million cubic meters of natural gas. In comparison with the respective period of 2014 the natural gas sales remained at the same level. 

Gas consumption early in the year was adversely affected by the unusually warm winter. The replacement of natural gas with renewable energy resources for district heating purposes also took its toll, as has been trending in recent years.

The gas injection season at the In?ukalns UGS began on May 27, 2015. There were 1 996.5 million cubic meters of active gas present at the end of the injection season.

Over 9 months of 2015, the consumers were sold natural gas and provided services for EUR 308.1 million, which is by 7.6 % less than in the respective period of 2014. The decrease of income year-on-year stems from the lower natural gas sales volume and fact that during 9 months of 2015, due to changes in oil product quotations and currency rates, the customers were applied differential natural gas sale end-user tariffs corresponding to a natural gas sale price 10.7 % below that of the 9 months of 2014. The income saw decrease both in the industrial and household sector.

The EBITDA over 9 months of 2015 is 49.4 million EUR yielding an EBITDA profitability of 16.1%, up from 15.1% in 9 months of 2014. The Company completed 9 months of 2015 with a net profit of 19.6 million EUR, which is 8.0 % less than in the respective period of 2014.

Within the framework of the capital investment programme, EUR 20.4 million of investment funds was spent over 9 months of 2015, mostly on the renovation of gas transmission and distribution pipelines, the modernization of technological equipment and the reconstruction of wells.