Revenue and net profit of the first half-year of 2016 of Lithuania's natural gas transmission system operator, AB Amber Grid, increased, and amounted to EUR 33.9 million and EUR 11.5 million respectively.
The Government of the Republic of Lithuania has approved the Special Plan of the Gas Interconnection Poland - Lithuania (GIPL).
The Company's revenue for the first quarter of 2016 amounted to EUR 21.3 million. Profit before tax and net profit amounted, respectively, to EUR 10.4 million and EUR 8.8 million.
At its meeting of 24 May 2016 the Board of AB Amber Grid as its Chairman for a four-year term elected Mr Nemunas Biknius, Director of Strategy and Development UAB EPSO-G.
The Innovation and Networks Executive Agency (INEA) transferred to AB Amber Grid the first advance payment of the EU support under the Connecting Europe Facility (CEF) to finance the construction works of Gas Interconnection Poland-Lithuania (GIPL) in the territory of the Republic of Lithuania. In accordance with the EU financial assistance agreement concluded among AB Amber Grid, the Polish gas transmission system operator, GAZ-SYSTEM SA , and the INEA, the advance payment accounts for 30 percent of the financial assistance allocated for the current year, 2016, and amounts to almost EUR 1.2 million.
