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On October 2,869 transactions was concluded on the GET Baltic gas exchange, which is operating in the Baltic States and Finland, which is 41% more than at the same time last year (October 2022: 2,029 transactions). Gas volumes traded maintained a stable trend and surpassed the 600 gigawatt-hour (GWh) mark for the third month in a row. In October, trading volumes reached 624 GWh of natural gas (678 GWh in October 2022). The largest purchases were made on the Lithuanian market area with 273 GWh (44% of the total), on the common Latvian-Estonian market area with 111 GWh (18%) and in Finland with 241 GWh (38%). As many as 61 participants actively placed buy and sell orders.
Individual transaction prices in October ranged from 30.00 EUR/MWh to 80.00 EUR/MWh. Gas on the daily market averaged 51.06 EUR/MWh, 21% higher than in September. The main price increases were in Finland, where the price was 55.53 EUR/MWh (↑30%), in the Lithuanian market area BGSI was 48.21 EUR/MWh (↑17%), and in the Latvian-Estonian common market area it was 45.58 EUR/MWh (↑8%).
“The isolation of the Finnish market due to the Balticconnector pipeline restrictions has resulted in a difference of more than 10 EUR/MWh in average prices compared to the Baltic markets since the second half of October. Currently, Finnish gas is supplied through the Inkoo LNG terminal. This case demonstrates the crucial role that infrastructure plays in the region to ensure security of gas supply, connect markets and enable the best gas prices,” says Giedre Kurme, CEO of GET Baltic.
Product and Service Development Project Manager
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