Latvijas Gāze
| Company type | Joint-stock company |
|---|---|
| Industry | Natural gas |
| Founded | 1991 |
| Headquarters | Riga , Latvia |
Area served | Latvia |
Key people | Kirils Selezņovs (council chairman, 2014), Adrians Dāvis (board chairman, 2014), Aigars Kalvītis (board chairman, 2015) |
| Products | Natural gas import and distribution |
| Owner | Gazprom (34%), Marguerite Fund (28.97%), Uniper Ruhrgas International (18.26%), Itera-Latvija (16%) |
| Website | www |
A/S Latvijas Gāze is a Latvian enterprise focused on the import and distribution of natural gas.
The company’s ownership structure includes Gazprom holding 34%, Rietumu Banka owning 28.97%, Uniper Ruhrgas International with 18.26%, and Itera-Latvija possessing 16%. In January 2016, the Marguerite Fund purchased the 28.97% share formerly owned by E.ON.
In 2016, Latvia separated its gas transmission network from Latvijas Gāze, leading to the creation of Conexus Baltic Grid, an independent entity responsible for transmission and storage. Latvijas Gāze also set up the distribution system operator, Gaso, to oversee gas distribution.
History
The origins of gas production in Riga trace back to 1862 when the city’s first artificial gas plant began generating fuel gas from coal for street lighting, eventually extending services to fueling stations and residential consumers. A second gas plant was established in Riga in 1875, followed by another facility in Liepaja in 1882. After World War II, liquefied petroleum gas was introduced in Latvia in 1949. The Main Gasification Board of the LPSR was created in 1961 and later reorganized into the State Gasification Committee. In 1962, a pipeline from Dashava, Ukraine, delivered natural gas to Riga for the first time. The underground gas storage facility at Inčukalnas commenced operations in 1968.
Throughout the 1970s, expansion plans for Latvia’s gas infrastructure included constructing new pipelines and compressor stations. The Valdais-Pleskava-Riga pipeline began operating in 1972, sourcing gas from the Vuktila field in Western Siberia. By 1986, the main pipeline connecting Saurieshi-Ogre-Jēkabpils-Daugavpils was completed. Although an underground storage facility was proposed near Dobele, it never came to fruition. In 1987, the State Gasification Committee transitioned into the production association Latvijas Gāze.
Following Latvia’s independence restoration in 1991, all gas supply infrastructure was consolidated under Latvijas Gāze (LG), which was registered that year and restructured into a state joint-stock company by 1994. Privatization took place between 1997 and 2002, resulting in E.ON Ruhrgas International AG, AAS Gazprom, and SIA ITERA Latvija becoming shareholders. In March 2014, E.ON Ruhrgas announced its intention to withdraw from Latvia’s market. By January 2016, after rebranding as Uniper Ruhrgas International GmbH, it sold its 28.97% stake in Latvijas Gāze to the Marguerite Fund—supported by prominent European financial institutions.
On 11 February 2016, amendments to Latvia’s Energy Law granted consumers freedom to select their gas supplier, finalizing market liberalization efforts. By April 2017, transmission and storage operations were required to be functionally separated from distribution and trading activities. On 2 September 2016, Latvijas Gāze shareholders approved restructuring plans; on 22 December that year, Conexus Baltic Grid was established to manage transmission and storage assets. Later, on 22 November 2017, Latvijas Gāze launched its subsidiary Gaso to serve as the distribution system operator.
Management
The governance framework of Latvijas Gāze consists of the shareholders’ meeting as the supreme authority, followed by the council and board. The council oversees board activities and represents shareholder interests; it is composed of eleven members elected for three-year terms. As of April 2014, Kirils Selezņovs served as council chairman with deputies Juris Savickis and Ahims Zauls.
The board is responsible for managing daily operations and company assets while making decisions not reserved for either the council or shareholders. It includes five members elected by the council for three-year terms. Adrians Dāvis held the chairman position in April 2014; in August 2015, former Latvian Prime Minister Aigars Kalvītis was appointed as chairman.
In 2022, JSC "Gaso," a subsidiary of Latvijas Gāze, had one board member with five Russian nationals serving on its board. Following amendments made on 16 June 2022 to Latvia's National Security Law, individuals and entities from Russia and Belarus were prohibited from holding significant stakes or roles in companies deemed critical to national security.
Support initiatives
Starting in 1997, Latvijas Gāze has been a supporter of the Latvian Olympic Committee and has provided sponsorship to the Latvian National Men's Basketball Team. In 2003, the company introduced an annual accolade to honor lifelong contributions in fields such as gas science, heating technology, chemistry, and cardiology. By 2004, Latvijas Gāze extended its patronage to the Latvian National Opera, assisting in the organization of international opera festivals and various cultural activities.