From the 2nd July trading in within-day product on the Baltic Gas Exchange GET Baltic is carried out together with the cross-border capacities allocated by the Implicit capacity allocation method at interconnection points between the Baltic States. A year ago, the Baltic Gas Exchange GET Baltic has launched the integrated trading model, which has created favourable conditions for the price convergence and the development of a liquid and competitive regional gas market in the Baltic States, therefore GET Baltic, together with the Baltic natural gas transmission system operators, have decided to extend the implicit capacity allocation method to within-day product. Starting from today orders to buy and (or) to sell the within-day product in the Baltic Gas Exchange is automatically displayed in market areas of all three Baltic States so that the price for transportation between Baltic countries is included in the total price.
“Cross-border trades made up around 40% of all traded volumes for day-ahead product in the Baltic Gas Exchange. With due regard of these great trading results and positive comments received from the exchange participants, we have decided to improve trading algorithm and propose the wholesale gas market participants the opportunity to purchase the natural gas for the current day delivery along with the gas transportation between the Baltic States. We hope that these changes will further increase cross-border trade flows and will provide additional flexibility for the exchange participants by balancing the natural gas portfolio as well as responding to the quick changes in natural gas demand or supply in all Baltic States”, – said Chief Business Development Officer of GET Baltic Gintaras Buzkys.
Since the establishment of the regional Baltic Gas Exchange GET Baltic on 1st July 2017, the exchange participants have concluded 2.5 thousand transactions, by which more than 1.1 TWh of natural gas were purchased and sold on the exchange. Currently, 74 gas exchange participants are registered on the GET Baltic Gas Exchange, 24 of which actively participated in submitting orders and concluding trades.
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 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.
More information:
Gintaras Buzkys
Chief Business Development Officer
Mob. +370 600 88047
gintaras.buzkys@getbaltic.com
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