Lietuvos Dujų Tiekimas became the first Market Maker on the Latvian market area of the Baltic Gas Exchange
Lietuvos Dujų Tiekimas will be responsible for maintaining liquidity and continuous trading on Lithuanian and Latvian market areas. Lithuanian natural gas supply and trading company Lietuvos Dujų Tiekimas, part of the Lietuvos Energija energy company group, started its activity as a Market Maker on the Baltic Gas Exchange in Latvian and Lithuanian market areas from 1st January 2018. The company will be responsible for maintaining liquidity and continuous trading on the Latvian and Lithuanian market areas periodically providing natural gas purchase and sale orders through electronic trading system of the exchange.
„We are glad to see the growing Baltic natural gas market participants’ interest in the Latvian market area. Last year 15% of total traded volumes of the exchange were bought in the Latvian market area. We see that the new Market Maker’s program, which is based on the good practice of gas exchanges of other Western European countries, works, gas trading companies concluding Market Makers’ agreements are actively contributing to the development of the wholesale natural gas market of the Baltic States”, said acting Chief Executive Officer of the Baltic Gas Exchange Gintaras Buzkys.
Market Maker is a Baltic 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.
„We have the most diversified natural gas supply portfolio in the Baltic States – we import gas through the LNG terminal and the gas pipeline, we are using the possibilities offered by the Inčukalns underground natural gas storage facility, we trade on the exchange. This ensures our competitiveness and reliable supply to our customers in the Baltic States. Therefore, becoming GET Baltic‘s Market Maker was a natural step for us strengthening our position in wholesale trading. At the same time we believe that more active cooperation with GET Baltic will benefit entire market of the Baltic States, it will increase trade dynamics and contributes to integration of the Baltic gas markets“, said Mantas Mikalajūnas Chief Executive Officer of Lietuvos Dujų Tiekimas.
A natural gas supply and trading company Lietuvos Dujų Tiekimas, owned by Lietuvos Energija Group, is the main supplier of natural gas to enterprises, public sector institutions and residents, satisfying the energy needs of more than 580 thousand customers in Lithuania. The company has a diversified supply portfolio and imports gas through the gas pipeline and via the LNG terminal, as well as the Inčukalns natural gas storage facility.
About GET Baltic
Conducting its operations since 2012, GET Baltic is a licensed natural gas market operator with a status of Registered Reporting Mechanism provided by the 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, and Estonia. Moreover, GET Baltic regularly extends the functionality of its electronic trading system and develops the other services provided by the Company. By providing high quality services, the Company is seeking to contribute to increase in liquidity, competitiveness, and transparency of the wholesale gas market of the Baltic States.
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