The unified gas transmission and storage system operator AS Conexus Baltic Grid (Conexus) will complete the seven-year-long modernization project of the Inčukalns underground gas storage facility by the end of this year, Conexus representatives have announced.
This year, 10.6 million euros has been invested in the facility. In total, the project — considered an investment of European significance — has reached 99.5 million euros over seven years, with €44 million covered by the Connecting Europe Facility (CEF) fund.
This year’s investments include the reconstruction of Gas Collection Point No.3, landscaping and painting works in the well area, and the installation of a U.S.-manufactured Solar Turbines Titan 130 gas compression unit at Compressor Station No.1.
Conexus Chairman Uldis Bariss stated that the works are progressing according to the planned schedule.
According to him, the investment project will significantly improve the security of natural gas supplies and enhance the system’s flexibility throughout the region. “We are already seeing substantial benefits, including increased efficiency and greater adaptability of the system to future demands,” Bariss emphasized.
The project includes improvements to the surface infrastructure, the reconstruction of Gas Collection Point No.3, refurbishment of wells, modernization of five existing gas compressor units, and the installation of a new compressor unit, all aimed at boosting gas supply security, increasing storage capacity, and promoting integration into the international energy market.
Currently, the reconstruction of Gas Collection Point No.3 is ongoing, with the first phase commissioned and the second phase under construction, expected to be completed and commissioned in the autumn. The refurbishment of all 36 wells has been completed, and landscaping and painting works are ongoing, along with preparations for final commissioning.
All five modernized gas compressor units have been commissioned, while the installation of the U.S.-made Solar Turbines Titan 130 at Compressor Station No.1 is underway, with commissioning also planned for the autumn.
It was previously reported that in 2024, Conexus achieved an audited turnover of 94.774 million euros, representing a 23.9% increase compared to the previous year, while net profit grew 2.4 times to 38.365 million euros.
Conexus is the sole operator of natural gas transmission and storage in Latvia, responsible for maintaining and upgrading storage infrastructure, investing in infrastructure development, monitoring and controlling the stability of the storage facility, and managing capacity reservation and sales.
The largest shareholder of Conexus is the state-owned “Augstsprieguma tīkls” (68.46%), while 29.06% is held by the Japanese company MM Infrastructure Investments Europe Limited (managed by Marubeni), and 2.48% by other shareholders.