GET Baltic performance of 2020 reflects successful changes and sustainable growth trends

2020 has been a year of changes and development at GET Baltic gas exchange. Following the implementation of important changes, significant progress of annual operating results has been made. The total traded volume of 2020 has reached an all-time high of 7.2 TWh of natural gas. Compared to 2019 (2.9 TWh), the turnover increased as much as 2.5 times. At the regional level, more than 11% of the total Baltic-Finnish countries demand was traded on the exchange. 51% of the total volume was purchased in Lithuania (3,687 GWh), 37% – in Finland (2,696 GWh) and 11% – in the common Latvian-Estonian market area (824 GWh).

The record-breaking results were determined by the constantly improving activities of the gas exchange and the successfully implemented changes at the very beginning of the year. From 1st of January 2020 GET Baltic has successfully launched a new market area in Finland becoming a single regional trading platform for the Baltic – Finnish gas market. Due to the merger of the Latvian and Estonian natural gas markets, the market areas were also merged on the gas exchange into one common market area. Finally, together with expanding its activities, continuous trading opportunities were ensured: trading on GET Baltic exchange takes place 24/7. These and many other changes implemented during 2020 led to grown market interest and activity on GET Baltic gas exchange.

Statistically, 2020 was exceptional year for several reasons. In addition to the significant increase in trading turnover, other performance indicators changed significantly a well. During 2020 a record number of transactions were concluded – 20,576 transactions, – 128% more comparing year on year (2019 – 9,045). The number of active participants increased by 75%: 56 exchange participants submitted orders, 55 of them successfully concluded transactions (in 2019 – 32 participants submitted orders, all of them concluded transactions). The transaction with the all-time lowest price in the history of GET Baltic was concluded in July for 4 EUR/MWh and with the highest price – in January for 23.1 EUR/MWh. Growing activity encouraged participants to trade within long-term products. In a monthly market, trading took place throughout the whole year, transactions were successfully concluded for 8 months (a total of 14 transactions were concluded).

Looking back at December 2020, a total of 2,334 transactions were concluded, all in the short-term market. As trading volumes amounted to 944 GWh of natural gas – a record-breaking monthly trading turnover in a daily market was reached. In December, 46 exchange participants actively submitted orders on the gas exchange and all of them successfully concluded transactions.

Baltic-Finnish Gas Spot Index (BGSI) which captures daily market gas prices changes, value in December 2020 was 14.91 EUR/MWh (November 2020 – 17.74 EUR/MWh). Participants concluded transactions in Lithuanian market area paid the weighted average price of 14.56 EUR/MWh (↓5%), in Latvian-Estonian common market area – 13.71 EUR/MWh (↑3%), in Finnish market area – 15.93 EUR/MWh (↑10%).

More detailed information is on the Baltic-Finnish Gas Exchange Trading Report for the December 2020.

All Baltic Gas Exchange Trading Report are available at www.getbaltic.com.

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