In February GET Baltic Gas Exchange recorded the lowest gas price since 2021

In February 2023, a total of 3030 transactions were concluded on the exchange. A total of 1.3 TWh of natural gas was traded which is 95% more than during the same period last year (654 GWh in February 2023). 1 TWh of the total traded volume was executed on the daily market and 271 GWh – on the monthly market. Most of gas purchases in February were made on the Lithuanian market area – 730 GWh (57 % of total volume), while 198 GWh (16%) – on the Latvian-Estonian common market area and 346 GWh (27%) – in Finland. The increase in trading on the exchange was influenced by falling natural gas prices, which have been at their lowest in recent years. Such prices were influenced by a warmer than normal winter in Europe, which led to the filling of natural gas storage facilities as well as high imports of liquified natural gas (LNG) and decreased overall gas consumption in Europe. GET Baltic exchange participants were active in placing buy and sell orders, each exceeding 3 TWh in February. 59 exchange participants actively submitted orders on the exchange, 56 of them successfully concluded transactions.

Individual transaction prices in February ranged from 44.76 EUR/MWh to 139.00 EUR/MWh. The Baltic and Finnish natural gas price index BGSI, which measures price changes on a daily market, decreased by 15% compared to the previous month, from 69.15 EUR/MWh to 58.82 EUR/MWh. In the Lithuanian Market area BGSI was 54.59 EUR/MWh (↓20%), 58.58 EUR/MWh (↓15%) in the Latvian-Estonian common market area and 65.05 EUR/MWh (↓9%) in Finland. Meanwhile, the value of the BGMI gas price index of the monthly market in February amounted to
108.00 EUR/MWh.

More detailed information is on the Baltic-Finnish Gas Exchange Trading Report February 2023.

All Baltic-Finnish Gas Exchange Trading Reports are available at

Phone: +370 5 236 0000

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