Joint Stock Company's "Latvijas Gāze" announcement on the LTV’s “De facto” story about the Joint Stock Company “Latvijas Gāze”, broadcasted on August 21, 2022
The Joint Stock Company “Latvijas Gāze” has gotten acquainted with the story about the Joint Stock Company “Latvijas Gāze”, broadcasted on LTV’s “De facto” on August 21, 2022 and in this regard announces the following.
The title of the story, or the main information to be conveyed to the audience at the lower part of the screen above the news ticker, does not match the opinions voiced in the story itself. When announcing the story, the presenter of the show mentions that the adopted amendments to the National Security Law only apply to commercial companies of significance to national security. In the story itself, too, it is explained that the purpose of the amendments to the National Security Law has been to restrict the voting rights of entities from the Russian Federation and the Republic of Belarus in commercial companies of significance to national security in Latvia. However, neither the announcement nor the story itself goes on to substantiate why the Joint Stock Company “Latvijas Gāze” does not constitute such company.
Contrary to what was stated in the story, the Joint Stock Company “Latvijas Gāze” stresses that it is not a commercial company of significance to national security under the current regulatory framework. Furthermore, the Joint Stock Company “Latvijas Gāze” is not aware of any of its shareholders impeding the reorganisation of the Joint Stock Company “Latvijas Gāze”. We can also assure that in its business activities the Joint Stock Company “Latvijas Gāze” strictly abides by the requirements of laws and its corporate governance documents.
The Joint Stock Company “Latvijas Gāze” understands that the freedom of word and press is a key precondition of democracy. Nevertheless, exercising this freedom is subject to certain rules of legal nature and of professional ethics, a breach of which may lead to distribution of false and even misleading information. In this regard, the Joint Stock Company “Latvijas Gāze” stresses in particular that the analysis reflected in the story is generalised and the Joint Stock Company “Latvijas Gāze” cannot treat such story as analytical and sensible information with a meaning and impact from an investor awareness standpoint.
The Board of the JSC “Latvijas Gāze”
On the JSC “Latvijas Gāze”
Latvijas Gāze is one of the leaders of the Baltic energy industry.
Our goal is to consolidate the leading position of the Latvijas Gāze 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 Gāze has successfully started natural gas trading in Finland as well. In the household segment, Latvijas Gāze is the biggest and most prominent natural gas trader in Latvia.
After Latvia regained its independence in 1991, a joint state-owned company “Latvijas Gāze” 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 Gāze” 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 Gāze, the unified transmission and storage operator JSC “Conexus Baltic Grid” was separated from Latvijas Gāze in early 2017, followed by the separation of the distribution system operator JSC “Gaso” on December 1, 2017.
Contact information:
Sandra Joksta
phone 369
