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Wednesday 13.11.2019 | Name days: Jevgēņija, Jevgēņijs, Eižens
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Latvijas Gāze agrees with Gazprom on 15% lower gas purchase price

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AS Latvijas Gāze (LG) and the Russian company Gazprom have reached an agreement on the natural gas supply, due to which the gas procurement price will drop by 15%, indicates the press secretary of LG Vinsents Makaris.

It is possible to count on the procurement price reduction at such extent if there are exact conditions as during the previous price formula implementation period, reports LETA.

Such reduction complies with the previous projections by Juris Savickis, the Head of SIA Itera Latvija, which is LG shareholder.

The new price formula will refer to the following year.

The purchase price is one of the factors that determine the tariffs. LG also indicates that, in turn, the purchase price depends on the oil price and currency rates. At the moment, the two conditions have negative trend; therefore, it is difficult to predict the natural gas price in the long term.

LG also reminds that in 2011 the reduced value added tax (VAT) rate will be increased from 10% to 12%, also the basic VAT rate will grow. While on July 1, 2011, an excise duty will be applied to the natural gas for household and heating needs, which will increase the final tariffs.

The tariff reduction is expected starting from early 2011. LG announced this on December 10. According to Makaris, the new formula was taken into account in the tariff calculation.

As reported previously, the tariffs for households that use natural gas for heating will reduce by 7%, while for households using stoves – by 4%. The tariff reduction for industrial clients is expected on average by 5%.

The Minister of Economics Artis Kampars told journalists in Moscow that he intends to meet with the CEO of Gazprom Alexei Miller on Tuesday, December 21.


Leave a reply

  1. Ren.ee says:

    Seems that in general the gas price for households will increase still…

  2. Ren.ee says:

    At least some reduction in prices is planned in 2011.

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