Conexus's total volume of transferred natural gas increased by 10% last year, reaching 37.4 TWh

The total volume of natural gas transferred by the single natural gas transmission and storage system operator JSC “Conexus Baltic Grid” (Conexu”) last year reached 37.4 TWh, which increased by 10% compared to 2019. At the same time last year, Conexus has invested in the modernisation of natural gas transmission and storage in recent years, amounting to EUR 21.9 million.

According to Conexus's non-audited financial statements for 2020, positive impacts in both the natural gas transmission and storage segments have been promoted by the single natural gas market, which combines Latvia, Estonia and Finland, and has been the year after the start of operation this year. As a result, compared to 2019, last year 16% of storage bookings have increased (21.5 TWh), significantly exceeding the available capacity offered for 2020./2021. At the same time, compared to 2019, the total volume of natural gas transferred has also increased by 10%.

In 2020, Conexus's turnover reached EUR 53.9 million, the company operated with a profit of EUR 13.1 million, while EBITDA amounted to EUR 30 million. According to Conexus Board Chairman Uldis Bariss, although last year the company's turnover has declined slightly, affected by a number of factors, including winter-uncharacteristically warm weather conditions, the most important indicator of the company's stability is the volume of natural gas directly transferred and stored.

Mr. Bariss stressed that 2020, alongside the launch of the Single Market, followed a number of important and unprecedented projects in the transmission and storage segments. Continues U.Bariss: “Conexus's main task is to maintain a secure, modern and accessible infrastructure. Therefore, over the last year, we have successfully continued to advance the implementation of projects of common European interest, which will lead to a significant improvement and strengthening of transmission and storage performance and security, bringing benefits at local and international level. The clear positive results of the single market for natural gas have demonstrated the need to continue the ongoing development course in this area and to push it forward at a new level, which is one of our goals this year."

At the same time, Bariss points out that despite the challenges and constraints posed by the pandemic, Conexus has ensured a safe and continuous operation of the transmission system and storage.

Last year investments in storage and transmission modernisation reached EUR 21.9 million

In 2020, significant projects have been implemented in the natural gas transmission segment, directing investments of €8.8 million, which is €1.7 million more than a year earlier. The largest investment volume was directed into sub-projects of the Latvian-Lithuanian interconnection capacity increase (ELLI), the repair of the transmission pipeline Pleskava-Riga and the pipeline branch on the gas control station (GCS) Sloka.

Last year, with even greater intensity, modernisation work in the natural gas storage segment was continued, directing investment at EUR 13.1 million, which is EUR 5.6 million more than a year earlier. The investments mainly included the implementation of sub-projects for the Inčukalns UGS modernisation project, which will improve the technical storage infrastructure and the safety of equipment.