The turnover of the gas transportation and storage operator has grown


The turnover of the Conexus Baltic Grid (Conexus) gas transportation and storage operator for the first nine months of 2018 amounted to 43.922 million euros – 28.6% more than in the same period of 2017, profit fell by 41.8% to 10.233 million euros, testifies the information of the enterprise.

Conexus’s gas transportation revenues in the first nine months of this year reached EUR 30.082 million and were 68.9% more than a year earlier, revenues from the storage of natural gas — EUR 13.84 million, which is 15.3% less.

For the first nine months of 2018, the pre-tax profit from the transfer of natural gas increased by 22.7% to 13.255 million euros, while the profit from gas storage decreased by 14.3% to 8.611 million euros.

The volume of natural gas transfer in the first nine months of this year reached 23,574 GWh (GWh) and was 27% more than in the first nine months of last year.

The turnover of Conexus for the nine months of 2017 amounted to 34.151 million euros, profit – 17.573 million euros.

Conexus was established on December 22, 2016 as a result of the reorganization of the company Latvijas gāze. Conexus is responsible for the transportation of gas through trunk pipelines with a length of 1,188 km and manages the Inchukalns Underground Gas Storage, where you can store up to 2.3 billion cubic meters of active natural gas. Conexus business partners are natural gas dealers responsible for supplying fuel to customers.

4.36% of Conexus shares are owned by the state company Augstsprieguma tīkls, 34.1% are owned by the Russian concern Gazprom, 29.06% are owned by the European fund Marguerite Gas.