OREANDA-NEWS. In 12 months of the year 2012, the JSC Latvijas Gaze sold to the consumers 1.46 billion m3 of natural gas. In comparison with the respective period of 2011, the natural gas sales decreased by 6.2 % due to the differences in outdoor air temperature and investments by heat supply companies in the use of renewable energy resources and a partial replacement of fossil fuels with woodchip.

The gas injection season at the Incukalns Underground Gas Storage Facility (hereinafter – Incukalns UGS) began on April 25, 2012 and was completed on October 11, 2012. 2.2 billion m3 of natural gas were injected into the Incukalns UGS, reaching the active gas volume of 2,3 billion m3 at the end of the injection season.

Over 12 months of 2012, the consumers were sold natural gas and provided services for LVL 427.4 million, which is by 21 % more than in the respective period of 2011.

The increase of income year-on-year stems from the fact that during 12 months of 2012, due to changes in oil product quotations and currency rates, the residential and industrial customers were applied differential natural gas sale end-user tariffs corresponding to a natural gas sale price 33% above that of the 12 months of 2011. The income saw growth both in the industrial and household sector.

The JSC Latvijas Gaze completed 12 months of 2012 with a profit of LVL 22.9 million, which is 15.8% lower than in the respective period 2011 when the Company profited LVL 27.2 million.

Within the framework of the capital investment programme, LVL 19.2 million of investment funds was spent over 12 months of 2012, mostly on the renovation of gas transmission and distribution pipelines, the modernization of technological equipment and the reconstruction of wells.