Latvijas Gaze would consider LNG purchase options if Latvia banned Russian gas imports completely

RIGA - If Latvia banned Russian gas imports completely, Latvijas Gaze natural gas utility would consider liquefied natural gas (LNG) purchase options so it could continue operations, the company's representative Anastasija Petere informed LETA. 

She indicated that it is not clear at this point where and how much LNG could be purchased. Besides, Latvijas Gaze could only purchase LNG if it was technically possible to deliver the product because the capacity of LNG deliveries is not inexhaustible. 

As reported, the Saeima's Economic, Agriculture, Environmental and Regional Policy Committee on April 6 endorsed a proposal to impose a ban on natural gas supplies from Russia to Latvia. For the bill to be enacted, it has yet to pass to more readings in the committee and parliament. 

Latvijas Gaze CEO Aigars Kalvitis warned in a statement of Nasdaq Riga that a ban on Russian gas imports would result in an energy crisis and higher prices for customers. 

With the available reserves, we can keep the market in its current state till July 2022, the Latvijas Gaze CEO informed. 

Latvijas Gaze's largest shareholders are Gazprom (34 percent), Marguerite Gas II.S.a.r.l. (28.97 percent), Uniper Ruhrgas International GmbH (18.26 percent) and Itera Latvija (16 percent). The company's shares are listed on Nasdaq Riga stock exchange.