Energy, Gas, Latvia

In the first nine months of this year, LG achieved LVL 238.14 million in net turnover, which is 12.5% more when compared to the same period last year, when the company achieved LVL 211.668 million in turnover, informs LETA.

In the first nine months of this year, LG sold 978 million cubic meters of gas to its customers; the sales volume dropped by 13.2%, compared with the results of the first nine months of last year.

Drop in the natural gas consumption volume in this year was influenced by weather conditions that were warmer than in the last quarter of year 2008, as well as by the steep drop in volume of production of goods due to the financial crisis and economic downslide in Latvia.

As reported, LG concluded 2008 with a profit of LVL 19.046 million, however, the profit last year was significantly smaller than in year 2007, when the company earned LVL 32.3 million in profit.

In 2008, LG sold 1.631 billion cubic meters of natural gas, which is 32 million cubic meters or 2.5% less than in 2007.