Energy, Gas, Gas Market , Latvia

Meanwhile, the gas company's profit grew six-fold - to EUR 17.68 mln in January-September 2020 as compared to EUR 2.83 mln in the same period a year ago.

The company's management said that 2020 has so far been a highly challenging year both for the entire world and the energy sector. Moderate air temperatures, strict coronavirus restrictions and low gas prices were the main factors affecting the group's operations in the accounting period. 

The net turnover of the sales and trading segment in the nine months of 2020 was EUR 98.4 mln, the segment's EBITDA was EUR 15.7 mln and profit before taxes was EUR 14.7 mln.

In the nine months of this year, Latvijas Gaze sold 8,369 gigawatt hours of natural gas to clients in Latvia and foreign countries, with sales outside Latvia making up 19 percent of the company's total gas sales. 

In 2019, Latvijas Gaze group turned over EUR 314.349 mln and generated EUR 20.19 mln in profit.

Latvijas Gaze is listed on the Nasdaq Riga Secondary List.

The company's largest shareholders are Gazprom (34%), Marguerite Gas II.S.a.r.l. (28,97%), Uniper Ruhrgas International GmbH (18,26%) and Itera Latvija (16%).