Conexus Baltic Grid AS

The Conexus Baltic Grid AS team wishes you a Merry Christmas! 🎄 May the holiday joy and warmth fill your home, and the New Year bring peace and new opportunities. ✨ Happy holidays!

🇪🇺 Continuing the modernization of the Inčukalns Underground Gas Storage Facility (UGS) within the framework of the European investment project of common European interest, Conexus has started the installation of the Solar Turbines Titan 130 gas compression unit manufactured in the United States of America at the Inčukalns UGS. This will significantly improve the safety and operational efficiency of the storage facility by increasing the natural gas pumping capacity. The installation of the new gas compression unit is expected to be completed by November 30, 2025. #PCIs #WorkingTogether #CINEA #CEFEnergy #CINEA_EU

🇪🇺The European Gas Transmission System Operators (TSOs) of Finland, Estonia, Latvia, Lithuania, Poland and Germany’s ONTRAS are starting the feasibility phase for the Nordic-Baltic Hydrogen Corridor (NBHC). These studies will focus on various crucial aspects including pipeline routing, compressor stations planning, financial and economic analysis, environmental and safety permitting issues as well as investigations on an implementation timeline. These studies are expected to run until mid-2026. In addition to these studies the involved TSOs aim to complete several cross-border analyses to further substantiate the NBHC planning on an overall project level based on the outcomes from the aforementioned studies. Uldis Bariss, Chairman of the Board of Conexus, emphasizes that the Nordic-Baltic Hydrogen Corridor project demonstrates not only Latvia's interest in regional integration and capacity to implement cross-border projects, but also its ability to increase the diversification of energy sources in practice.

Conexus Baltic Grid AS is implementing a sustainable development strategy focused on responsible energy management and environmental protection. Our goal is to ensure a greener future for the entire region. Our initiatives: 🔹 Biomethane injection points: this year, we initiated the development of a biomethane injection point in Džūkste, expected to be completed by 2025. By integrating biomethane into the gas transmission system, we will promote green energy usage and enhance the efficient use of local resources. 🔋 Nordic-Baltic Hydrogen Corridor: in collaboration with five European gas transmission system operators, Conexus is developing the Northern-Baltic Hydrogen Corridor project. The goal is to establish infrastructure for transporting renewable hydrogen across six countries: Finland, Estonia, Latvia, Lithuania, Poland, and Germany. This project will foster the hydrogen market and support the transition to green energy, contributing to climate goals. 🌍 Reduction of greenhouse gas emissions: we have developed a methane emission reduction plan, including a series of initiatives through 2027, to effectively minimize climate impact. With continuous innovation, we remain dedicated to sustainable development. 🌿 Environmental impact reduction: by modernizing five gas compression units at the Inčukalns Underground Gas Storage facility, we have achieved a substantial reduction in air emissions. Moving forward, these units will operate with significantly reduced environmental impact.

Greetings from Munich! 🌍 The 21st annual international conference organised by Gas Infrastructure Europe (GIE) opened today, bringing together 300 energy experts to inspire change and innovation in the energy sector. Over the next two days, a variety of interactive discussions and networking events will take place, focused on creating sustainable solutions in Europe's energy landscape. The conference will cover a variety of important topics including hydrogen infrastructure, the role of gas infrastructure, diversification of supply sources and routes, the benefits of biomethane and other current topics. We are delighted to have the opportunity to take part in important discussions to collectively strengthen the energy sector. 🤝 #GIE2024

🗓️ On 15 October, at the start of the official natural gas withdrawal season, 19.5 TWh of natural gas was stored in the Inčukalns Underground Gas Storage, which accounts for almost 80% of the total storage capacity. Operational data show that 10 TWh of natural gas was stored in the storage facility between the 1st of May and the end of the natural gas injection season, bringing the total volume of natural gas to 19.5 TWh. 🌍During the natural gas injection season, 52.8% of the total gas volume entering the Latvian and Estonian gas network was supplied from Finland, 46.9% - from Lithuania, and 0.3% - biomethane produced in Latvia. Biomethane production and injection into the network started in 2024 and 0.04 TWh of biomethane was produced in this season. 💡 Market participants have reserved the entire capacity of the Inčukalns Underground Gas Storage facility, ensuring stability of natural gas supply and readiness for the winter period.

Last week Conexus hosted a media event, where Conexus Baltic Grid AS representatives: Uldis Bariss, Chairman of the Board, Rinalds Dimiņš, Member of the Board, Mārtiņš Gode, Member of the Board, and Mārtiņš Makars, Head of Inčukalns underground gas storage, briefed journalists on the Inčukalns underground gas storage readiness for the gas withdrawal season. During the press event, information was provided on the volume of natural gas and the readiness of the storage facility for the upcoming withdrawal season, including the overall storage capacity and demand for storage services. The company's representatives also explained the importance of the Inčukalns gas storage facility for the region's energy security and presented the latest updates on the modernisation project. Particular attention was paid to the use of renewable energy sources, including recent initiatives such as the development of the North-Baltic Hydrogen Corridor and the establishment of a biomethane injection point in Džūkste. 🌱 At the end of the event, media representatives toured the Inčukalns underground gas storage facility to see first-hand its operations and infrastructure.

Conexus Baltic Grid AS, together with five other European transmission system operators, has successfully completed the feasibility study for the Nordic-Baltic Hydrogen Corridor. This project, launched in January 2024, marks an important step towards renewable hydrogen transport between six countries – Latvia, Finland, Estonia, Lithuania, Poland, and Germany. 🌍 🌿 The feasibility study identified significant renewable hydrogen potential – up to 27.1 million tons. 📊 The hydrogen corridor is expected to enable the transport of 2.7 Mt of hydrogen annually between the participating countries. 📌 The hydrogen corridor will be crucial for achieving the European Union’s decarbonization goals. 💬 "The feasibility study has been successfully completed and, in the next phase of the study, it is important for all parties involved to develop more detailed plans for the development of the project and to assess a possible timetable for implementation. The hydrogen corridor will form the basis for a regional hydrogen market and could offer new business opportunities in Latvia. It is essential that the project is implemented in accordance with the needs and resources of the region, ensuring a positive impact on the local and regional economy," said Uldis Baris, CEO of Conexus.

Conexus employees' summer sports month 🎯 Over the past month, the Conexus team enthusiastically participated in various sports activities. This not only allowed us to test our skills and talents but also strengthened our collaboration and team spirit. This initiative, which is now in its third year, has become a much-anticipated tradition among our employees, promoting team spirit and a positive work environment. This summer we experienced many exciting moments: we tried out SUP boards on the river, tested our reaction speed and accuracy by shooting clay plates, showcased our golf skills, enjoyed a fantastic day with horses, and participated in many other activities! 🏄♂️🌊⛳ Thank you to everyone who took part and made this month special!

📝Conexus has decided to no longer determine the credit rating that is assigned by the international credit rating agency S&P Global Ratings (S&P) based on the company’s ability to continue its development without additional external loans. With this decision, Conexus’ “BBB+” long-term credit rating has been withdrawn. 📊“By withdrawing the credit rating, we are demonstrating our confidence in the stability of the company. Conexus has high liquidity, which reduces the need to borrow from the financial capital markets. At the same time, the decision not to determine the credit rating allows us to reduce expenses and focus resources on the most important development and growth objectives,” explains Uldis Bariss, Chairman of the Management Board of Conexus.