Lietuvos dujos

Lietuvos dujos ( dt gas Lithuania ) is a large Lithuanian gas supplier, since 1995 continues the business of the state-owned gas supplier founded in 1961 under that name. Lietuvos Dujos distributed over 1,800 km of pipelines and a 7500 km long distribution network almost all connected to the gas network Lithuanian households (just under 540,000, 99% of all connected households) and 5,300 commercial establishments. The company employs 1,800 staff (as of 2007, 2,300 in 2002).

" Lietuvos dujos " is listed on the Vilnius Stock Exchange, since January 1, 2008 in the first list. Over 6% of the shares are in free float. General Director of the Company since 2004 the Lithuanian Viktoras Valentukevičius while the Executive Board, which shall exercise the controlling tasks, alternately led by E.ON Ruhrgas and Gazprom; since April 2007, Stephan Kamphues E.ON Chief Executive Officer.

Business

In the second half of the 1990s, the company's revenues due to the opening of the market for other providers (in the range of large consumers ) fell sharply and reached 400 million litas in 2002 with its lowest point (compared to 780 million litas in 1998 ). Then the good economic development made ​​at stabilizing market shares again for an increase in gas sales has (of 560 million m³ to 1.364 billion cubic meters ), where he already declined slightly again between 2002 and 2007 more than doubled in the last two years is. The fluctuations in the consumption of private households, however, are small: they took from 2007 187 million m³, 2003/2004, there were about 150 million m³. The number of supplied households increased since 2003 (518.000) only slightly to 537,000 in 2007. For industrial consumers during this period, an increase of almost 50 % was recorded (from 3,600 to 5,300 ).

The main reason for the high growth rates of recent years have been rapid price increases: sales were 2003/2004 still 500 million litas, so in 2006 it was 780 million litas and in the following year another 30 % more, well over 1 billion litas. The year 2008 brought - in sharp price increases - a record increase of another 50 % to 1.56 billion litas. The net profit in 2007 rose by as much as about 80 % (from LTL 57.3 million to LTL 104 million ), but went again in 2008 significantly ( LTL 64.2 million ), which was in the range of 2003 -, 2006. Trigger for the profit decline was again strong increase in gas purchase prices that were in the last quarter on the sale contract price. 2012 was achieved sales of 1.873 billion litas.

History

The beginning of the gas supply in Lithuania and thus the former state-owned gas utility Lietuvos dujos is the time of the Soviet Union than in the early 1960s, the first local authorities and businesses were connected to the gas lines from Russia (Kaunas, for example 1962). In many cases, power stations were built with combined heat and power in the municipalities that burn gas and produce district heat in addition to electricity.

Privatization

The privatization of state-owned gas utility began in 1995 with the conversion of Lietuvos Dujos into a corporation ( akcine bendrovė, AB). 2001 had been set by the government that initially 34 % of the shares to a strategic investor and then a further 34 % of the shares should be sold to a gas supplier. By May 2002 there were still 92 % of the shares in public hands. On May 17, 2002 ( almost 34 million euros ) were in accordance with the requirements of the Act in a first major step towards privatization 34 % stake for 116 million litas sold to the German utility E.ON Ruhrgas ( total proportion end of 2002: 35.6 % ). The only other interested party, Gaz de France, had made an offer. Mid-2002 have been advertised for sale an additional 34 % of the shares, which, after long negotiations ultimately in January 2004 for 100 million litas ( nearly 29 million euros ) to the single candidate, the Russian gas supplier Gazprom went. The lower selling price for Gazprom was politically very controversial and was established by the government with the long -term supply contract with the Gazprom committed to a stable gas supply at commercial rates until 2015. The state has over its privatization authority 17.7 % of the shares.