Energy, Gas, Lithuania

International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 23:11

Lithuanian Amber Grid records EUR 4.2 mln in net profit in 9 months

BC, Vilnius, 31.10.2014.Print version
Natural gas transmission system operator AB Amber Grid nine-month revenues totalled LTL 126.9 million (EUR 36.7 million). Pre-tax profit and net profit totalled LTL 12.9 million (EUR 3.7 million) and LTL 14.6 million (EUR 4.2 million), respectively, the company said in a statement, cites LETA/ELTA.

During the first nine months of 2014, 1,795 million cubic metres (MCM) of natural gas was transported via natural gas transmission system to Lithuanian consumers. Compared to the nine months of 2013 (in January – July 2013 gas transmission activity was carried out by AB Lietuvos Dujos, in August – September 2013 by AB Amber Grid), transmitted gas volumes declined by 12.6 percent. This came as a result of decreased gas consumption in Lithuania due to the warm winter season and the use of alternative fuel for electricity and heat production.

 

Nine-month gas transit to the Kaliningrad region of the Russian Federation amounted to 1,440 MCM, which represents a drop of 3.3 percent compared with a respective period of the year 2013.

 

Nine-month investments in gas transmission system development, reconstruction and modernisation totalled LTL 28.3 million (EUR 8.2 million). Almost half of the total investment amount, LTL 13.5 million (EUR 3.9 million), went to finance the Capacity Enhancement of Klaipeda-Kiemenai Pipeline Project.

 

Capacity Enhancement of Klaipeda-Kiemenai Pipeline Project aims to diversify the sources of gas supply in the Baltic Region, to create sufficient capacities for the transportation of natural gas from the LNG terminal in Klaipeda to gas consumers in Lithuania and other Baltic countries. A 110 km long, 800 mm wide pipeline going from Klaipeda LNG terminal interconnection point nearby Klaipeda to Kursenai is planned to be built in the implementation of the project. The commencement of the pipeline is scheduled in the end of 2015.






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