Turnover of JSC "Conexus Baltic Grid” has increased by 10% last year

The turnover of the unified natural gas transmission and storage system operator JSC "Conexus Baltic Grid” (Conexus) reached 54.2 million euro in 2018 that is by 9.8% more that in 2017, but the profit is 13.3 million euro shows the annual accounts of the Company.

In 2018, the volume of the natural gas transmitted in the  transmission system of JSC "Conexus Baltic Grid” increased reaching 30 151 GWh that is by 14% more that a year before.  The transmission segment provided 63% of the total company's revenues last year.

During the previous reporting period the company has made considerable investment in the maintenance and modernization of technical infrastructure, investing 7.1 million euro in Inčukalns Underground Gas Storage (Inčukalns UGS) thus total investments reached 13.9 million euro.

"One of the most important targets of Conexus is to promote the development of regional natural gas market which means both maintenance of safe and available transmission infrastructure and sustainable operation of Inčukalns Underground Gas Storage. These all are complex solutions requiring long-terms work which continues also this year. The performance indicators 2018 show that we are on the right way and this year our operational priorities list comprises new investment projects by attracting the co-financing of European Commission and international cooperation projects by strengthening the role of Latvian natural gas infrastructure in the Baltic and Scandinavian scale,” informs Zane Kotāne, Chairwoman of the Board of JSC "Conexus Baltic Grid”.