Vilnius, Lithuania, 2015-12-23 09:08 CET (GLOBE NEWSWIRE) -- Public limited liability company Lietuvos Dujos, identification code 120059523, the address of the head office: Aguonų St. 24, LT-03212 Vilnius, The Republic of Lithuania. The total number of registered ordinary shares issued by the Company amounts to 290,685,740, ISIN code LT0000116220.
Lietuvos Dujos, a natural gas distribution company, operated by the energy group Lietuvos Energija has prepared a ten-year investment plan which shows that the company plans to invest EUR 141.1 million in the network in the next 10 years. The largest investments will be made in the expansion of the distribution system, reconstruction of the gas pipelines used for gas distribution, and the distance data collection and management system upgrade.
As Liudas Liutkevičius, Chairman of the Management Board and General Manager of the company, put it, when planning the new investments, their cost-efficiency, total return and benefits were assessed.
“The quality of the Lithuanian gas distribution system is quite high; therefore, the investments we are planning in the ten-year run will be made only where required. While planning investments we took into consideration the expectations of the main interested parties, the anticipated growth in the number of new clients and the related expansion of the network. Besides, investments were planned so that they do not cause any increase in gas distribution price rates in the long-term. To reduce the infrastructure operational costs, we must take advantage of the existing infrastructure and to expand it in a rational manner, as well as to densify the network in terms of the number of natural gas users, and to boost gas consumption,” Mr Liutkevičius said.
Lietuvos Dujos investment plan for 2016-2025 sets forth ten investment directions. The largest amount – EUR 58 million – is to be invested in the expansion of the distribution system since the number of new gas users is increasingly growing. Around EUR 21 million are planned to be invested in modernising the distance data collection and management systems, and as many as EUR 20.4 million – in reconstructing gas pipelines used for distribution. In the next ten years, the gas metering system upgrade will require EUR 11.7 million. The allocation to the reconstruction of gas pressure regulating facilities will amount to EUR 7.7 million, the amount of investments made in the replacement and installation of new closing devices will amount to EUR 6.5 million, and in the reconstruction of anti-corrosion pipeline solutions – to EUR 1.2 million. As many as EUR 3.5 million are planned to be invested in gas distribution reliability projects, and EUR 0.66 million will be allocated to buy out the pipelines used for distribution. To modernise technological processes EUR 3.9 million will be invested.
The ten-year investment plan of Lietuvos Dujos presents detailed and clear information about the main technical data on the components of the gas distribution network operated and maintained by the Company, the planned infrastructure projects, and the status and deadlines of current and ongoing projects. The plan has been drafted taking into consideration the expectations of all interested parties, namely, shareholders, the public, decision-makers, contractors and regulators.
In nine months of 2015, Lietuvos Dujos has invested almost 20 per cent or EUR 1.3 million more in the gas distribution system than in the same period last year. In total, the investments amount to EUR 8.3 million.
Information is not confidential.
Head of Communications Laura Šebekienė, Tel. No +370 633 99940
