GET Baltic natural gas exchange marks a record-breaking trading turnover of 9.1 TWh in 2023


With the new opportunities provided by the energy infrastructure, the natural gas exchange “GET Baltic,” operating in the Baltic countries and Finland, achieved a record turnover in 2023. Participants in the exchange traded 9.1 terawatt-hours (TWh) of gas, which is 31% more than in 2022 (7 TWh). In addition, the market share held by the “GET Baltic” exchange expanded, reaching 23% of the total demand in the Baltic-Finnish region in 2023. The market share in 2022 was 17%.

The growth of trading on the “GET Baltic” exchange was mostly influenced by infrastructure projects that were developed in the region: the opening of the Inkoo SGD terminal in Finland in 2023, the efficient operation of GIPL pipeline, connecting the Baltic market with Poland, and the Inčukalns gas storage facility in Latvia, which reached its almost full capacity in October. The increasing attractiveness of the region encouraged the registration of new participants and their activity on the exchange, thus increasing liquidity and competition,” says Giedrė Kurmė, the CEO of “GET Baltic”.

4.5 TWh (49% of the total amount) was purchased on the Lithuanian market area, 1.9 TWh (21%) on the Latvian-Estonian common market area, and 2.7 TWh (29%) of natural gas in Finland. In 2023, more than 32 thousand transactions were fulfilled on the exchange, which is 28% increase from last year (25 thousand transactions in 2022). 70 exchange participants actively traded on the exchange.

It is important to note that in 2023, GET Baltic became a part of the European Energy Exchange (EEX) group, entering into a new chapter of developing the gas market in the Baltic countries and Finland. The main goal of this partnership is to strengthen the gas markets in the Baltic countries and Finland, and to promote the integration into the European gas trading markets.

The value of the Baltic and Finnish natural gas price index BGSI decreased by 12% compared to November: from 49.35 EUR/MWh to 45.53 EUR/MWh. The BGSI decreased to 39.45 EUR/MWh (↓15%) in the Lithuanian market area, to 35.62 EUR/MWh in the Latvian-Estonian common market area (↓22%), and increased to 59.72 EUR/MWh in Finland (↑6%). Meanwhile, the value of the BGMI gas price index of the monthly transactions market in December amounted to 51.31 EUR/MWh. The prices of individual transactions in December ranged from 20 EUR/MWh to 99 EUR/MWh. The trading turnover of the GET Baltic exchange reached 1 TWh of natural gas.

More information:
Laura Šebekienė, Communications & Marketing Manager
Phone: +370 699 61246,

Phone: +370 5 236 0000

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