Estonian Natural Gas Market Players Start to Use GET Baltic Natural Gas Exchange

2015-03-23

Consistently implementing the goal to be a regional natural gas exchange, UAB GET Baltic has reached an important stage – on 20 March 2015, one of the Estonia‘s largest natural gas players Eesti Energia AS has been registered on the GET Baltic Natural Gas Exchange. “This is both an important development and a significant step for our Company towards the formation of a regional market. Market players understand that the ongoing changes in the market create new opportunities, which should be tapped without hesitation. The major part of Lithuanian natural gas players have already been registered on the GET Baltic Gas Exchange. Sales volumes and market liquidity is increasing. Therefore it is natural that these opportunities become attractive for neighbouring market players well” – said Giedrė Kurmė, CEO of GET Baltic.

The core business activity of Eesti Energia AS covers electricity production. As the Eesti Energia AS says in its press release, the Company has been selling gas in addition to electricity to its major Estonian corporate clients for three years.

“Participating in GET Baltic Gas Exchange will help us to ensure to our gas clients that the offers made to them reflect the actual market prices for gas. Also, the co-operation increases the gas supply security. As we started first official gas supplies from Klaipėda LNG terminal in the first quarter of 2015 and now joined the Lithuanian gas exchange, we have more alternatives to gas monopoly. Further development of Baltic gas markets could be achieved by harmonizing regulations in all three Baltic countries.”- commented Heikko Mäe, Director of Energy Trading Business Unit at Eesti Energia AS.

Eesti Energia AS is the 48^th company registered on the GET Baltic Gas Exchange. A list of exchange participants is regularly updated and published on the UAB GET Baltic website: www.getbaltic.com, in the column Register of Exchange Participants.

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