Gasum will become a Market Maker on the Baltic – Finnish Gas Exchange
From 1st of January 2020 the Nordic energy company Gasum, will start its operation as Market Maker on the Baltic – Finnish Gas Exchange. The company will take responsibility in maintaining sufficient liquidity and continuous trading on the Finnish market area by periodically providing natural gas sale and purchase orders through the trading platform of the regional gas exchange.
“We welcome Gasum who have joined our Market Maker‘s program and demonstrated its strong commitment to the Finnish energy community. Gasum’s presence on the market in a role of Market Maker will provide not only more liquidity, but also confidence and reliability for the Finnish gas market players. By signing the Market Maker’s Agreement with the biggest natural gas importer in Finland we have made a final step forward in our preparation works before the launch of new market area in Finland from 1st of January 2020”, 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.
“As the leading energy company in the Finnish natural gas market we want to take responsibility in supporting the development of a functioning regional gas market. We see GET Baltic’s invitation to become Market Maker as a possibility to further promote continuous trading in the Finnish market area of the Baltic – Finnish Gas Exchange. Increased trading activity at GET Baltic will open up new opportunities for all market participants and most importantly also benefits customers”, says Jouni Liimatta, Head of Trading of Gasum.
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.
Gasum is a Nordic gas sector and energy market expert. Together with its partners, Gasum is building a bridge towards a carbon-neutral society on land and at sea. Gasum imports natural gas to Finland and promotes circular economy by processing waste and producing biogas and recycled nutrients in Finland and Sweden. The company offers energy for heat and power production, industry as well as road and maritime transport. Gasum is the leading supplier of biogas in the Nordic countries. The company has a gas filling stations network, that also serves heavy-duty vehicles. Gasum is also the leading liquefied natural gas (LNG) player in the Nordic market. The company continues to strengthen the position and infrastructure of LNG and supplies LNG to maritime transport, industry and heavy-duty vehicles in Finland, Sweden and Norway.
For further information please contact:
Chief Business Development Officer, GET Baltic
Phone: +370 600 88047
Head of Trading, Gasum
Phone: +358 408293330