AS Eesti Gaas has started its operation as Market Maker on the Estonian market area of the Baltic Gas Exchange
From the beginning of 2018 AS Eesti Gaas has started its operation as Market Maker on the Estonian market area of the Baltic Gas Exchange. Market Maker’s Agreement, which was signed between GET Baltic and AS Eesti Gaas obliges company to maintain liquidity and continuous trading on Estonian market area periodically providing natural gas purchase and sale orders through the electronic trading system of the exchange.
“We expect our engagement on the regional gas exchange will facilitate further development of the Estonian gas market and increase competitiveness of natural gas, providing benefits to all market participants – to the trading community and to consumers. We see the regional natural gas exchange as a great Baltic gas market integration tool, which we are going to use extending our gas trading activities within Baltic States”, said Margus Kaasik Member of the Board of AS Eesti Gaas.
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 are pleased to extend our cooperation with Eesti Gaas by signing Market Maker’s Agreement. This is one more step forward bringing more liquidity to the Estonian market area, which means increased activity on the exchange, more transparency and reliable price index for the Estonian market. We are constantly cooperating with leading energy traders aiming to sign new Market Maker’s agreements and to ensure sufficient market depth in all market areas of the Baltic States”, said acting Chief Executive Officer of the Baltic Gas Exchange Gintaras Buzkys.
AS Eesti Gaas is among the biggest and most experienced energy companies in Estonia whose core product and competence is natural gas – an efficient, affordable and very clean energy source. The company offers natural gas in its various forms – as pipeline gas, as compressed natural gas (CNG) and as liquefied gas (LNG), for heating, industrial solutions and transport. In addition, company supplies electricity for both private and business customers.
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.