Eesti Gaas will act as Market Maker on the Baltic – Finnish gas exchange, GET Baltic
From 1st of January 2020 AS Eesti Gaas, one of the largest and most experienced energy companies in the Baltic States, will act as the Market Maker on the Baltic – Finnish Gas Exchange, GET Baltic. The company will provide and improve liquidity on both Finnish and Common Latvian – Estonian market areas, by periodically submitting natural gas sale and purchase orders through the trading platform of the regional gas exchange.
“We are happy to extend our cooperation with one of a key market player – Eesti Gaas by signing new Market Maker’s Agreement. Liquidity provided by market makers is essential to attract and preserve customer order flow that contributes to the growing liquidity pool, more transparency and reliable price index formation on the regional gas market. We are constantly cooperating with leading energy traders aiming to attract international market players and ensuring sufficient market depth in Finland from the beginning of market opening, as well as other market areas of the Baltic States”, says Gintaras Buzkys, Chief Business Development Officer at GET Baltic.
Market Maker is a Baltic – Finnish Gas Exchange participant, which according to the signed Market Maker’s Agreement undertakes the obligation to submit specific volume of buy and sell orders of natural gas products in order to increase the ability for other Exchange participants to enter into a transaction at a market price.
“We are delighted to be part of the market opening in Finland and to contribute to the development of the innovative regional gas exchange as Market Maker. Since we became a market maker a few years ago, we sought additional ways to partner with the GET Baltic and leverage our expertise and technology. We see upcoming changes as a great opportunity to further diversify our operations and to provide liquidity for the benefit of the whole regional gas market”, said Margus Kaasik Member of the Board of AS Eesti Gaas.
GET Baltic operates as a licensed natural gas market operator with the status of Registered Reporting Mechanism provided by ACER. The Company administrates the electronic trading system for trading spot and forward natural gas products with physical delivery in the market areas located in Lithuania, Latvia, Estonia and from 1st January 2020 Finland. The development of tailor-made solutions for natural gas trading is intended to contribute to increased liquidity, competitiveness and transparency of wholesale gas markets in Finland and the Baltic States.
Eesti Gaas runs the largest gas supply network in Estonia and also operates in Finland, Latvia and Lithuania. The group has a total of 50,000 clients and 240 employees. In addition to supplying customers with natural gas through pipelines, as CNG, and LNG, the company sells electricity and specializes in the development of various energy production solutions.
For further information please contact:
Chief Business Development Officer, GET Baltic
Phone: +370 600 88047
Member of the Board
Phone: +372 630 3003