In August 2023, 2,726 transactions were concluded on the GET Baltic exchange, with a volume traded of 683 GWh of natural gas, which is  91% more compared to the previous month and even 73% more compared to the same period last year (August 2022 – 394 GWh). Of the total transactions, 670 GWh of natural gas was traded on the daily market and 13 GWh on the monthly market. This sharp increase in the volume traded is due to the increase in electricity prices, which has favored electricity production in the Baltic States using natural gas. In Lithuania, as much as 52% of the total electricity consumed in Lithuania was generated in August.

Although the Baltic-Finnish Natural Gas Price Index BGSI, which tracks natural gas prices on the day-ahead market, was up by 16% month-on-month at 42.69 EUR/MWh in August, it was down 82% compared to the same period last year, when it recorded the highest average monthly price since the start of the war in Ukraine (241.69 EUR/MWh). Meanwhile, the value of the BGMI gas price index of the monthly market in (BGMI), which captures the evolution of monthly contract market prices, stood at 33.56 EUR/MWh in August (↓7%).  In response to global gas price trends, individual contract prices in the Baltic-Finland region ranged between EUR 28.00/MWh and EUR 55.00/MWh in August.

In August 2023, 218 GWh were traded on the GET Baltic exchange in cross-border (ICA) transactions, an increase of 97% compared to the previous month. The Lithuanian market area accounted for the largest share of August’s purchases – 45% of total volume, the Latvian-Estonian common market area 21% and Finnish market area 34%.

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

All Baltic-Finnish Gas Exchange Trading Reports are available at 

Phone: +370 5 236 0000

GET Baltic website uses two main types of cookies.

Our website uses essential cookies that are necessary for the proper functioning of the website and statistical cookies for the analysis of our traffic. With the following statement, you can agree to the use of cookies. More information in Cookies policy