Baltic-Finnish Gas Exchange Trading Report for December 2023 Has Been Announced

GET Baltic natural gas exchange marks a record-breaking trading turnover of 9.1 TWh in 2023

GET Baltic natural gas exchange marks a record-breaking trading turnover and prospects for further growth in 2023. These successful results can be attributed to a consistent effort in the developing of the exchange, a growing community of exchange participants, and infrastructure projects that were developed in the region. One of these projects is the Inkoo LNG terminal in Finland, which received its first shipment in April 2023. In addition, the underground gas storage facility in Inčukalns, Latvia, which reached its almost full capacity in October, played a significant role. GIPL pipeline, which opened back in 2022, connecting the gas transmission systems of Poland and Lithuania, in addition integrating Baltic countries and Finland into a unified European Union gas network, remained a crucial element of this growth. Consequently, leading to the registration of new participants on the exchange and a noticeable increase in their activity in the region. It is important to note that in 2023, GET Baltic became a part of the European Energy Exchange (EEX) group, entering into a new chapter of developing the gas market in the Baltic countries and Finland. The main goal of this partnership is to strengthen the gas markets in the Baltic countries and Finland, and to promote the integration into the European gas trading markets.

In 2023, a total of 9.1 TWh of natural gas were traded on the exchange, 31% more than in 2022. The annual consumption of gas in the region remained similar as last year, but on the regional scale, the volume traded on the GET Baltic gas exchange increased and amounted to 23% of the total demand for the Baltic-Finnish region (17% in 2022). 4.5 TWh (49% of the total amount) was purchased on the Lithuanian market area, 1.9 TWh (21%) on the Latvian-Estonian common market area, and 2.7 TWh (29%) of natural gas in Finland. In 2023, more than 32 thousand transactions were fulfilled on the exchange, which is 28% increase from last year (25 thousand transactions in 2022). 70 exchange participants actively traded on the exchange (66 participants in 2022). The prices of individual transactions ranged from 10.00 EUR/MWh to 139.00  EUR/MWh. The exchange’s trading results and increasing market share in the region reflects the competitiveness of the products offered by the exchange in natural gas trading.

In December, the trading turnover of the GET Baltic exchange reached 1 TWh of natural gas. The prices of individual transactions in December ranged from 20 EUR/MWh to 99 EUR/MWh. The value of the Baltic and Finnish natural gas price index BGSI decreased by 12% compared to November: from 49.35 EUR/MWh to 45.53 EUR/MWh. The BGSI decreased to 39.45 EUR/MWh (↓15%) in the Lithuanian market area, to 35.62 EUR/MWh in the Latvian-Estonian common market area (↓22%), and increased to 59.72 EUR/MWh in Finland (↑6%). Meanwhile, the value of the BGMI gas price index of the monthly transactions market in December amounted to 51.31 EUR/MWh.

More detailed information is on the Baltic-Finnish Gas Exchange Trading Report December 2023.

All Baltic-Finnish Gas Exchange Trading Reports are available at  www.getbaltic.com