According to the Eurostat official data, in the second half of 2012, the highest increase in household natural gas prices among the EU members was observed in Latvia. The gas prices for household consumers rose by 21% in comparison to the same period last year.
Domestic natural gas prices also rose significantly in Estonia (19%) and in Bulgaria (18%). In Lithuania it was registered a 13 per cent increase. Among the 27 EU states the prices decreased only in Slovenia (7.8%).
On average, natural gas prices grew to 10.3% in the European Union in the second half of 2012. Meanwhile, Eurostat does not provide data on Cyprus, Malta, and Finland as their gas market volume is small.
In real terms the price of gas in Latvia stood at 5.6 euros per 100 kWh, which is corresponding to about 9 cubic meters and which is lower than the average price in the EU (7.2 euros). By comparison with Latvia's prices, in Greece and Denmark natural gas prices were higher than 10 euros per 100 kWh, in Sweden it was higher than 12 euros.
Russia is the major gas supplier for Latvia. The Russian gas covers approximately 70% of the total amount this Baltic country’s needs. In 2009, the deal was signed between Latvia's Latvijas Gāze (Gazprom owns 34% of its shares) and Gazprom.
In 2010, the companies listed above came to an agreement about a 15 per cent discount on Russian fuel, which was in effect also in 2011 and 2012. The natural gas delivery charges are not specified.
