In February GET Baltic gas exchange recorded the lowest gas price since 2021

The average gas price on the GET Baltic natural gas exchange in February was 58.82 EUR/MWh. This is 15% lower than in January 2023 (69.15 EUR/MWh) and 28% lower than the same period last year (81.67 EUR/MWh in February 2022).

At the end of February, the average price on the exchange in the Baltic and Finnish markets was around 55 EUR/MWh. The price decrease was driven by a warmer than normal winter in Europe which led to the filling of natural gas storage facilities, strong LNG imports and a decrease in overall gas consumption in Europe. Individual transaction prices in February ranged from 44.76 EUR/MWh to 139.00 EUR/MWh.

In February 2023, a total of 3030 transactions were concluded. A total of 1.3 TWh of natural gas was traded which is 95% more compared to the same period last year (654 GWh in February 2023).

1TWh 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 the total), while 198 GWh (16%) – on the Latvian-Estonian common market area and 346 GWh (27%) – in Finland.

Exchange participants were active in placing orders, both volumes of orders to buy and to sell natural gas exceeding 3 TWh in February. In total, 59 participants actively placed orders on the exchange, 56 of them successfully concluded transactions.

More information:

Roberta Kaklienė
Product and Service Development Project Manager
roberta.kakliene@getbaltic.com
Tel. +370 681 74822