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


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Amber Grid : is to modernize gas distribution stations near Vilnius and Kėdainiai for EUR 6 million

09/22/2020 | 07:55am EST

Gas transmission system operator Amber Grid will upgrade important elements of the system over the next three years, i.e. the Grigiškės, Vievis and Kėdainiai gas distribution stations. This is provided for in the agreement signed with the Lithuanian Business Support Agency (LVPA), under which the support of the European Union will be provided. More than EUR 6 million worth project will be implemented by 2023. EU structural funds will finance half of the amount - a bit more than EUR 3 million.

'By modernizing the state-owned gas transmission system, we aim to ensure the necessary gas transmission capacity for Lithuanian businesses and residents, and to ensure that assets are effectively managed and maintained by modern means. For this purpose, we use the support of the EU structural funds, which allows not to include a significant part of the network renewal investments in the price of the gas transmission service for customers,' says Nemunas Biknius, CEO of Amber Grid.

The renovation of the Grigiškės, Vievis and Kėdainiai gas distribution stations is one of the last projects of the station renovation programme that has been implemented for almost two decades. EU support for the renovation of Šiauliai and Telšiai gas distribution and the Mažeikiai gas metering station was recently provided. The value of this project is EUR 4 million.

The 4-5-decade old Grigiškės, Vievis and Kėdainiai gas distribution stations will be reconstructed in new buildings by installing advanced and reliable technological equipment. Installed economical boilers will use less gas and reduce the impact on the environment.

Particular attention is paid to the digital management of the stations. The operation of the gas distribution stations will be controlled remotely from the system control centre. New gas pressure relief devices, metering devices, automated control, remote data transmission, alarm systems will also be installed. This will reduce the possibility of accidents and disruptions.

A total of 65 gas distribution stations have been installed in the Lithuanian gas transmission system. Their main purpose is to reduce the pressure of gas coming from the main gas pipelines to a lower pressure suitable for the gas distribution network. Another important function of the gas distribution station is gas metering. Different gas calorific values are calculated at the points of the Lithuanian gas transmission system that border with other countries. Properly functioning gas metering systems allow accurate measurement of the quality and quantity of gas entering the system. At gas distribution stations, the gas is also cleaned, heated and given a specific smell.

A modern gas transmission system adapted to today's gas consumption needs and maintained in a timely manner ensures the safety of people, lower environmental pollution and optimal network maintenance costs. About 55 terawatt-hours of gas are transported through the Lithuanian gas transmission network per year.

The Lithuanian gas transmission system consists of more than two thousand kilometres of underground gas pipelines, 65 gas distribution stations, 3 gas metering stations and 2 compressor stations. From now on, the entire gas transmission system can be seen on the digital map of the Centre of Registers REGIA (www.regia.lt).


AB Amber Grid published this content on 22 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2020 11:54:01 UTC

© Publicnow 2020
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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%
Duration : Period :
Amber Grid Technical Analysis Chart | AMG1L | LT0000128696 | MarketScreener
Income Statement Evolution
Managers and Directors
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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