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    JSC “Latvijas Gaze” statement on natural gas supplies


    July 29, 2022 - GlobeNewswire Europe

     

      In the course of its business, the JSC “Latvijas Gaze” purchases natural gas from other suppliers, paying in the EUR currency as required under the regulatory framework effective in Latvia. There are no natural gas supplies currently taking place from the PJSC “Gazprom”.

      Importantly, the JSC “Latvijas Gaze” is not the only natural gas trader to purchase and receive natural gas in the Baltic region from Russia.

      Under the amendments to the Energy Law in force since 28.07.2022, natural gas supplies from Russia shall be prohibited as of 01.01.2023. Up until that date, natural gas supplies from Russia are allowed.

      JSC “Latvijas Gaze”

      Chairman of the Board

      Aigars Kalvitis

      On the JSC “Latvijas Gaze”

      Latvijas Gaze is one of the leaders of the Baltic energy industry.

      Our goal is to consolidate the leading position of the Latvijas Gaze Group in the Latvian and Baltic energy market by becoming the customers’ first choice among natural gas suppliers and providing the most reliable natural gas supply for the entire region.

      The wholesale and sale of natural gas to business customers is carried out in Latvia, Lithuania and Estonia. Following the opening of the Finnish gas market on January 1, 2020, Latvijas Gaze has successfully started natural gas trading in Finland as well. In the household segment, Latvijas Gaze is the biggest and most prominent natural gas trader in Latvia.

      After Latvia regained its independence in 1991, a joint state-owned company “Latvijas Gaze” was established by merging the Latvian gas infrastructure and institutions. The privatisation of the company was commenced in 1997 and completed in 2002. Since February 15, 1999, the shares of the JSC “Latvijas Gaze” have been quoted on the Nasdaq Riga stock exchange. Taking into account the requirements of the European Union for the establishment of the natural gas market and the expiry of the privatisation agreement between the state and the shareholders of Latvijas Gaze, the unified transmission and storage operator JSC “Conexus Baltic Grid” was separated from Latvijas Gaze in early 2017, followed by the separation of the distribution system operator JSC “Gaso” on December 1, 2017.

      Contact information:

      Sandra Joksta

      https://www.globenewswire.com/Tracker?data=PP40D3qpjC8zZgVxJpS22WUV-_NZv... target="_blank">investor.relations@lg.lv

      phone + 371 67 374 369

      https://www.globenewswire.com/newsroom/ti?nf=MTAwMDcwNzE0NyM0MDEzMzI5MTE... class="__GNW8366DE3E__IMG">

      https://ml-eu.globenewswire.com/media/NzNjM2FkN2ItNTY1Yy00NDcyLWEzNDQtZW...

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