JSC “Latvijas Gaze” statement on launching the process of sale of the JSC “Gaso”

On August 8, 2022, the shareholders of the JSC "Latvijas Gaze” passed a decision on launching the Company’s reorganisation process or the reduction of its equity capital.

The Board of the JSC "Latvijas Gaze” supports the need to effect the reorganisation of the JSC "Latvijas Gaze” in execution of the shareholder’s decision of August 8, 2022 and has launched the process of selling the gas distribution operator JSC "Gaso” which it owns. The process is expected to be completed within 2023.

JSC "Latvijas Gaze”
Board

On the JSC "Latvijas Gaze”

Latvijas Gaze is one of the leaders of the Baltic energy industry.
Our goal is to consolidate the leading position of the Latvijas Gaze Group in the Latvian and Baltic energy market by becoming the customers’ first choice among Natural Gas suppliers and providing the most 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 Gaze has successfully started natural gas trading in Finland as well. In the household segment, Latvijas Gaze is the biggest and most prominent natural gas trader in Latvia.
After Latvia regained its independence in 1991, a joint state-owned company "Latvijas Gaze” was established by merging the Latvian gas infrastructure and institutions. The privatisation of the company was commenced in 1997 and completed in 2002. Since February 15, 1999, the shares of the JSC "Latvijas Gaze” have been quoted on the Nasdaq Riga stock exchange. Taking into account the requirements of the European Union for the establishment of the natural gas market and the expiry of the privatisation agreement between the state and the shareholders of Latvijas Gaze, the unified transmission and storage operator JSC "Conexus Baltic Grid” was separated from Latvijas Gaze in early 2017, followed by the separation of the distribution system operator JSC "Gaso” on December 1, 2017.

Contact information:
Sandra Joksta
investor.relations@lg.lv
phone + 371 67 374 369