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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF LITHUANIA  >  Amber Grid    AMG1L   LT0000128696

AMBER GRID

(AMG1L)
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Amber Grid : The volume of gas transmission services provided by Amber Grid to the EU gas market has been growing by nearly one fifth

10/19/2020 | 03:15am EST

Lithuanian gas transmission system operator Amber Grid transported nearly 26 terawatt-hours (TWh) natural gas, excluding gas transmitted to Kaliningrad, through Lithuania to Baltic Region consumers in January-September, 2020. It is 17.6 per cent more than in 2019, when 21.2 TWh natural gas was transported into Lithuania during the same period. Gas consumption in Lithuania was also growing.

Growing volumes of Amber Grid services were mainly induced by highly increased gas flow in Nordic direction to other Baltic States and Finland this year. The gas transmitted to the above-mentioned countries accounted for 40 per cent of the total gas consumption in Lithuania. Amber Grid transported two times more gas (7.8 TWh) into the Baltic States and Finland than last year via the well-developed Lithuanian gas transmission infrastructure. The Estonian-Finnish gas link Balticconector put into operation this January had a significant impact of the growth.

'Well-developed and reliable Lithuanian gas transmission system, the LNG terminal in Klaipėda that created gas supply alternative for the whole region and the new link with Finland determine transformation of gas flows. Market participants are given an opportunity to benefit from in particular favourable gas prices on the international market this year. With the flows mainly oriented from the East direction in the past, today a Nordic corridor is operating effectively, through which gas transported to Klaipėda LNG terminal continues its smooth travel to Latvia, Estonia and Finland. With the GIPL interconnection launched, we will develop a South-North corridor for transmitting gas from Poland to Lithuania and the Baltic States and back', said Amber Grid Commerce Director Vytautas Ruolia.

Nearly all gas - 7.6 TWh, transmitted to the Baltic States and Finland this year, was transported during warm period of the year. Record volume of gas was transmitted to the Baltic States in August, when monthly flow to the Baltic States was 2 TWh, which is nearly the same volume that was transmitted in the same direction throughout 2018.

Use of Klaipėda LNG terminal for gas supply to the region is continue growing. In three quarters of the year, Klaipėda LNG terminal supplied 63.7 per cent of total gas imported into Lithuania, while gas brought from Belarus and Latvia via pipelines accounted for 36.3%. Volume of gas supplied via Klaipėda LNG terminal was nearly 40% bigger if compared with the same period of the last year.

In three quarters of 2020, Lithuania consumed 17.7 TWh gas, or 5.7% more than during the same period last year. Smaller gas consumption caused by warmer winter in the beginning of the year was offset later by in particular favourable gas price, which encouraged Lithuania to generate electricity from gas. Throughout this period, the main power generating capacities of Lithuania generated 2.5 times more electricity from gas than during the same period last year.

Disclaimer

AB Amber Grid published this content on 19 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2020 07:14:02 UTC


© Publicnow 2020
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Financials
Sales 2019 54,8 M 66,1 M 66,1 M
Net income 2019 11,8 M 14,3 M 14,3 M
Net Debt 2019 73,6 M 88,9 M 88,9 M
P/E ratio 2019 14,8x
Yield 2019 -
Capitalization 184 M 222 M 222 M
EV / Sales 2018 5,19x
EV / Sales 2019 4,54x
Nbr of Employees 324
Free-Float 3,42%
Chart AMBER GRID
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Amber Grid Technical Analysis Chart | AMG1L | LT0000128696 | MarketScreener
Income Statement Evolution
Managers and Directors
NameTitle
Nemunas Biknius Chief Executive Officer
Algirdas Juozaponis Chairman
Gytis Fominas Chief Financial Officer
Andrius Dagys Technical Director
Sigitas Žutautas Independent Director
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