Gas prices on the GET Baltic exchange continue to fall for the sixth consecutive month

Despite the daily volatility of natural gas prices, the average monthly price on the exchange has maintained its downward trend for the sixth consecutive month. The value of the Baltic and Finnish natural gas price index BGSI, which captures the changes in natural gas prices on the daily market, decreased by over 2% compared to the previous month, from 37.20 EUR/MWh to 36.31 EUR/MWh. In response to global gas price trends, prices for individual transactions in the Baltic-Finland region ranged between 26.50 EUR/MWh and 52.49 EUR/MWh during the month. Nevertheless, according to Gas Infrastructure Europe, the Inčukalns gas storage facility in Latvia was added by another 11 percentage points in June, and by the end of the month it was almost 62% full – which is 52% more than the same time last year.

The fastest price decrease in June on the daily market was recorded in Finland: the BGSI on the Lithuanian market area was 36.80 EUR/MWh (↑1%), on the Latvian-Estonian common market area – 36.24 EUR/MWh (↓2%) and in Finland – 35.54 EUR/MWh (↓11%). Meanwhile, the monthly market recorded the highest activity in the history of GET Baltic, with conclusion of 19 transactions for June delivery, all on the Lithuanian market area. Baltic-Finnish Gas Monthly Index (BGMI), which captures the changes in natural gas prices on the monthly market, value in June was 40.07 EUR/MWh.

A total of 576 GWh of natural gas was traded on the exchange during June, of which 170 GWh was traded in cross-border (ICA) transactions, an increase of 55% compared year on year. The majority of gas was purchased in the Lithuanian market area – 256 GWh (44% of the total volume), in the Latvian-Estonian common market area – 159 GWh (28%) and in Finland – 160 GWh (28%). 483 GWh of the total volume were traded on the daily market and 93 GWh on the monthly market.

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

All Baltic-Finnish Gas Exchange Trading Reports are available at 

Phone: +370 5 236 0000

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