Energy, Gas, Gas Market , Latvia

International Internet Magazine. Baltic States news & analytics Friday, 26.04.2024, 22:13

Natural gas distribution system operator Gaso posts 6% decrease in turnover in nine months

BC, Riga , 09.12.2020.Print version
Natural gas distribution system operator Gaso posted EUR 34.902 million in turnover in the first nine months of the year, a 6 percent decrease on the first nine months of 2019, while the company's profit decreased 19.4% to EUR 4.787 mln, according to the company's quarterly report, writes LETA.

The company's management report says that the volume of natural gas supplied to Gaso users in January-September this year amounted to 737,000 cubic meters, which is 24% less than in the first nine months of 2019. The decrease is attributed to warmer weather, which resulted in a decrease in consumption in all distribution system's tariff categories.


The distribution system's revenue in the first nine months was EUR 33.9 mln, which accounts for 97% of Gaso's total revenue and is 4% less than in the first six months in 2019.


The management report says that Gaso continued to develop a secure and accessible natural gas distribution infrastructure. 


Gaso's turnover in the first nine months of 2019 was EUR 37.151 mln and profit - EUR 5.943 mln.


Gaso is a subsidiary of gas utility Latvijas Gaze. The company is the only natural gas distribution system operator in Latvia. Gaso started operations in December 2017.




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