Baltic-Finnish Gas Exchange Trading Report for October 2022 Has Been Announced

On the GET Baltic exchange, natural gas prices fell by half

In October 2022, the amount of natural gas traded on the exchange increased significantly, reaching 678 GWh of natural gas, which is 330% more than in September (September 2022 – 158 GWh). 601 GWh of natural gas were traded on the daily market and 78 GWh on the monthly market. The annual turnover has exceeded 5 TWh of natural gas. The increased traded volume was influenced by the falling natural gas prices due to filled up natural gas storages in Europe and rather warm October. In October, the exchange recorded the cheapest transaction of this year, which was concluded in Lithuanian market area for 30.00 EUR/MWh. The largest volumes of purchases were in the Latvian-Estonian common market area and in Lithuanian market area, where each area purchased 45% of the monthly turnover (272 GWh and 270 GWh respectively). Exchange participants actively submitted orders – in October, the amount of orders submitted to buy gas reached 3 TWh, and to sell – 2.3 TWh. 58 exchange participants actively submitted orders on the exchange, 57 of them successfully concluded transactions.

Prices of individual transactions in October ranged from 30.00 EUR/MWh to 209.00 EUR/MWh. The Baltic and Finnish natural gas price index BGSI, which measures changes in natural gas prices on a daily market amounted to 111.66 EUR/MWh. This is 47% less compared to last month (September 2022 – 212 EUR/MWh). BGSI reached 103.33 EUR/MWh (↓51%) in the Lithuanian market area, 125.44 EUR/MWh (↓40%) in the Latvian-Estonian common market area and 126.58 EUR/MWh (↓41%) in Finland. In October, the value of the Baltic – Finnish monthly market gas price index BGMI, which records changes in monthly market prices, was 206.50 EUR/MWh.

More detailed information is on the Baltic-Finnish Gas Exchange Trading Report October 2022.

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