Latvijas Gaze concern posts 56% rise in H1 sales

Irena Cirule, Trade Commissioner (Latvia)

Latvijas Gaze concern in the first six months of this year generated 154.255 million EURO in turnover, up 56 percent from the respective period last year, while the company’s profit shrank three times to 5.445 million EURO, according to the company’s unaudited financial report.

Latvijas Gaze reported that colder temperature during heating season and significantly higher natural gas prices were the two main factors, which influenced the company’s performance in first half of 2021. Colder temperature increased the company’s sales and utilization of Gaso distribution network. At the same time price rally in natural gas environment, on the back of economic recovery, posed a challenge during first half of 2021 and will continue to pose a challenge for the remaining part of the year.


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