Latvijas Gaze resumes buying gas from Russia
On the weather condition of settlements for natural gas imports into Latvia going forwards
28.04.2022.
The JSC "Latvijas Gāze" has a long-term agreement with the PJSC "Gazprom" on natural gas supplies in 2000-2030. So far, as stipulated by the agreement, payments for supplies have been fabricated in the EUR currency.
Since March 31, 2022, there accept been changes envisaged in the procedure of settlements for natural gas imports into Latvia.
The JSC "Latvijas Gāze" has non fabricated whatever natural gas purchases from the PJSC "Gazprom" since the introduction of the changes. There are both political and commercial reasons to the decision of not purchasing natural gas. The stance of the European Commission and Latvia regarding the changes in the procedure of settlements is still not articulate, and the natural gas market place price is economically uncompetitive and excessive.
On April 23, 2022, the international news bureau "Reuters" published an article titled "European union says pay for Russian gas in euros to avoid breaching sanctions" which refers, inter alia, to a guideline document on the effect of settlements drafted past the European Committee and sent to the member states. The commodity also says that the guideline certificate mentions options whereby businesses could legitimately pay for gas, but at the aforementioned time stresses that the procedure which envisages deviations from the decree issued on March 31, 2022 by President of the Russian Federation Five.Putin is non entirely clear.
Having regard to this data circulating in the public international media and the fact that the text of the guideli ne document is available neither on the European Commission's official website nor on that of the European Council, the JSC "Latvijas Gāze" has asked the Ministry building of Economy as the competent authorization in accuse of the energy sector and the sectoral policy to explain whether the to a higher place procedure of settlements may be uniform with the requirements of the sanctions authorities against the Russia in order for the JSC "Latvijas Gāze" to be able to plan its further business activity and continue fulfilling its obligations as public trader towards more than 350,000 household customers.
The JSC "Latvijas Gāze" has also approached the Fiscal and Majuscule Market Commission with a asking for a special let for changes in the procedure of settlements with the PJSC "Gazprom". No answers to the said requests have been received at the records part of the JSC "Latvijas Gāze" yet.
The JSC "Latvijas Gāze" currently has sufficient natural gas reserves to afford waiting for a more than commercially attractive natural gas cost. As soon as the natural gas market place state of affairs allows, the JSC "Latvijas Gāze" will resume ownership natural gas.
On behalf of the JSC "Latvijas Gāze",
Chairman of the Board
Aigars Kalvītis
On the JSC "Latvijas Gāze"
Latvijas Gāze is one of the leaders of the Baltic energy industry.
Our goal is to consolidate the leading position of the Latvijas Gāze Grouping in the Latvian and Baltic energy market by condign the customers' first selection among natural gas suppliers and providing the virtually 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 Gāze has successfully started natural gas trading in Republic of finland besides. In the household segment, Latvijas Gāze is the biggest and most prominent natural gas trader in Latvia.
Subsequently Latvia regained its independence in 1991, a joint land-owned company "Latvijas Gāze" was established by merging the Latvian gas infrastructure and institutions. The privatisation of the visitor was commenced in 1997 and completed in 2002. Since February 15, 1999, the shares of the JSC "Latvijas Gāze" have been quoted on the Nasdaq Riga stock exchange. Taking into account the requirements of the European Wedlock for the establishment of the natural gas market place and the decease of the privatisation understanding between the state and the shareholders of Latvijas Gāze, the unified transmission and storage operator JSC "Conexus Baltic Grid" was separated from Latvijas Gāze in early on 2017, followed by the separation of the distribution system operator JSC "Gaso" on December 1, 2017.
Previous news
27.04.2022.
In order to provide our customers with a more convenient use of services, a more transparent layout and more visually modern communication, nosotros have worked thoroughly to better the customer portal.
13.04.2022.
In response to the publicly circulating information on Latvia's intention to turn down imports of Russian-origin natural gas into Latvia as of January ane, 2023, the JSC "Latvijas Gāze" would like to highlight the need to detect the regional principle.
Source: https://lg.lv/en/news/on-the-conditions-of-settlements-for-natural-gas-imports-into-latvia-going-forward
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