Conexus: demand for natural gas remains stable

The unaudited financial report of the single natural gas transmission and storage system operator Conexus Baltic Grid JSC (Conexus) for the first nine months of this year shows that the volume of natural gas transported was 7% higher than in the same period last year, reaching 31.5 TWh. The volume of natural gas withdrawn from the Inčukalns underground gas storage facility (UGS) in the reporting period reached 12.4 TWh, which is 72% more than a year earlier. The growing performance in both segments enabled Conexus to increase its turnover to EUR 40.9 million.

According to the company's financial statements for the first nine months of 2021, the volume of natural gas transported increased, ensuring uninterrupted supply of natural gas for the needs of Latvia and neighbouring countries.

Analysing the performance of the natural gas storage segment, the volume withdrawn from Inčukalns UGS in the first nine months of this year amounted to 12.4 TWh, which is 72% more than last year. The volume of natural gas consumption for Latvian users reached 8.7 TWh, which is 9% more than in 2020. This increase in natural gas consumption is due to the climatic conditions in 2021, which were slightly more severe at the beginning of the year than last winter.

Uldis Bariss, Chairman of the Conexus Management Board, says: "It should be underlined that thanks to the digitisation activities carried out in previous years, Conexus successfully adapted its operations to the emergency conditions created by the Covid-19 pandemic. Despite the challenging conditions at global and national level, we have been able to ensure the safe operation of infrastructure and the availability of natural gas transmission and storage services, while ensuring the implementation of projects at European level, as well as launching the necessary studies to implement the green objectives."

The Company's EBITDA for the period under review increased by 12% compared to the same period in 2020 and amounted to EUR 25.2 million.