The largest private capital energy company in the Baltic-Finnish region, Eesti Gaas, will lower the price of its flexible package for domestic customers in February by twenty percent compared to January, and by an additional seven percent in March – the new price in March will be 0.46 euros/m³ including VAT.
"The price of natural gas has fallen to summer levels in the middle of winter, despite the cold weather the price of gas at the beginning of the year has halved," said Margus Kaasik, Chairman of the Board of Eesti Gaas.
"If last heating season gas drove up energy prices, now the roles have changed and the central theme has become the reliability and price of electricity supply. Gas has helped cover our energy demand this winter and survive the frost, it would not have been possible without the contribution of natural gas," noted Kaasik.
Natural gas is predominantly imported from the United States and Norway in liquefied form, or LNG, to the Finnish Inkoo and Lithuanian Klaipeda terminals. Eesti Gaas brought 18 shipments of LNG to the region last year. One shipment of gas constitutes about a quarter of Estonia's annual gas consumption.
Operating in five markets – Finland, Estonia, Latvia, Lithuania, and Poland – Eesti Gaas grew last year into the largest private capital energy company in the Finnish and Baltic region. Eesti Gaas offers its customers natural gas in the form of pipeline gas, compressed natural gas (CNG), and liquefied natural gas (LNG), and manages the largest gas network in Estonia and Latvia. The company is actively engaged in international energy trade and is developing a renewable energy portfolio through the production and sale of solar energy and green gas (biomethane). In foreign markets, Eesti Gaas operates under the name Elenger.