UAB “Achema Gas Trade” will be responsible for maintaining liquidity and continuous trading on Lithuanian market area. On 21st December 2017 Baltic Gas Exchange GET Baltic has signed a Market Maker’s Agreement with the largest natural gas consumer in the Baltic States AB “Achema” subsidiary – UAB “Achema Gas Trade”. The company will be responsible for maintaining liquidity and continuous trading on the Lithuanian market area periodically providing natural gas purchase and sale orders through the Exchange electronic trading system.
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.
“Signing of the first Market Maker’s Agreement with the largest natural gas importer in the Baltic States will certainly increase the liquidity and attractiveness of the natural gas exchange. Since the beginning of our activity we are committed to contributing to the development of the wholesale gas market, therefore, we believe that the new Market Maker’s program will ensures continuous trading in all market areas in the Baltic States and will also enhance exchange participants’ confidence in the wholesale market. We hope that in the nearest future, we will sign contracts for Market Maker operations to be conducted in Latvian and Estonian market areas as well“, said acting Chief Executive Officer of the Baltic Gas Exchange Gintaras Buzkys.
The emergence of a Market Maker creates additional opportunities for all Baltic wholesale gas market participants, since the short-term trading on the natural gas exchange is integrated. For example, Day-ahead orders to buy or to sell natural gas submitted in Lithuanian market area are automatically displayed in market areas of other Baltic States, along with the price of transportation between Baltic countries.
“UAB “Achema Gas Trade” being subsidiary of the largest natural gas consumer in the Baltic States has always been interested in advanced natural gas trading instruments and has actively been participating in the wholesale natural gas market, so GET Baltic’s invitation to become Market Maker and ensure liquidity on the exchange only confirmed our status as reliable partner, which is capable to ensure stable gas supply for your business. We are glad to contribute to the development of GET Baltic regional natural gas exchange, together with signing of this agreement we hope that participation of our company will increase interest in the products traded on the exchange and along with other Baltic trading partners we will create liquid wholesale natural gas market”, said Gediminas Vasauskas Chief Executive Officer of UAB “Achema Gas Trade”.
UAB “Achema Gas Trade” mission is to be reliable natural gas and LNG supply partner and ensure that industrial consumers in Lithuania and all Baltic states would have most favourable natural gas supply conditions. Company together with its parent company AB “Achema” being the largest natural gas buyer and consumer in all Baltic States can offer its partners flexible pricing and private business orientated collaboration attitude.
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. The Company also provides other services to the participants of the wholesale gas market. With due regard of the comments of its Exchange Participants, GET Baltic regularly extends the functionality of its electronic trading system and develops the 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.
More information:
Gintaras Buzkys
Acting CEO
Mobile: +370 600 88047
gintaras.buzkys@getbaltic.com
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