Energy, Latvia, The Baltic Course No. 27

Juris Savickis.

“ITERA Latvia Co. Ltd.” is also regionally affiliated with and represents within Baltic States the interests of ITERA International Group of Companies. The major business of the Group on its corporate level centers on natural gas transactions. In recent years ITERA has become an active player on international gas markets, primarily in Russia and its neighbor countries, which allowed having all components of natural gas business, viz. extraction, processing, transportation and sales, joined together and been successfully developed further on.

“ITERA Latvija Co.Ltd.” advances its activities in Latvia and in the Baltic region as a whole with its foothold on the total potential of ITERA Group.

For the time being ITERA Latvia is ensuring about a quarter of the demand for natural gas supplies to Latvia; Eventual increase thereof represents only apart of the company’s strategy, since natural gas takes quite a unique place among the commodities in highest demand worldwide, particularly in the most developed countries. There should be a good reason in relating to it as a major power source of the next century. Consequently, ITERA Latvia is also directing its efforts towards introduction of modern gas consuming and processing technologies into industries of the Baltic region, affording production of internationally competitive commodities.

The future of “Latvijas Gaze” lies in the development of the national and regional markets. Latvia may double its consumption from 1.4 to 2.5 billion cubic meters in foreseeable future already. Besides that, Latvia is importing 35-40 per cent of electricity, therefore new power plants have to be built, to which also “ITERA Latvija” plans to supply gas. I am sure that the new gas pipeline, through which even more Russian gas will flow to Europe, will pass somewhere near Latvia, taking into account the strategic location of our country. That will allow developing the unique potential of the earth entrails of Latvia by means of creating new natural gas storage sites, for example, in the vicinity of Dobele. In that way “Latvijas Gaze” might become an important part of the gas market of the Baltic region as well as of the nascent European common gas industry.

ITERA Latvia is proud to be one of the major sponsors of Latvian tennis as well as other kinds of national sport.

Skanstes str. 13

Riga, LV-1013, Latvia

Phone: 7025600

Fax: 7025601

E-mail: [email protected]

www.iteragroup.com