Eesti Gaas expands to the Latvian household gas market
Eesti Gaas, the largest private energy company in the Baltic-Finnish region, will enter the Latvian natural gas household market, which will open in May, and plans to take a significant share in a market that is four times larger than in Estonia.
“While in Estonia 100,000 households use natural gas, in Latvia the number is about 400,000. We have been selling gas to companies in Latvia for the last five years, now we want to take part in the open household market. We can offer the customer a better price and a more reliable supply, as we buy gas in large quantities directly from Western sources,” said Margus Kaasik, Chairman of the Board of Eesti Gaas.
“Eesti Gaas continues to expand – today 70% of our sales come from export markets, essentially this number is increasing every day. Successful expansion has enabled us to grow into the largest private energy company in the Baltic-Finnish region. In addition to gas, we will continue to develop and offer other energy products,” Kaasik said.
Eesti Gaas has signed agreements with LNG terminals to bring a total of ten gas cargoes for its customers by the fall of this year – three deliveries from the United States and Norway have already arrived in Lithuania’s Klaipeda port in January and March, and seven more will arrive in Finland’s Inkoo port in spring and summer. Last year, Eesti Gaas procured five large shiploads of gas through the port of Klaipeda.
Lately, Eesti Gaas announced the expansion to Poland, where the company sells gas directly to the end consumer as well as to a wholesale distributor and trades on the local gas exchange.
Eesti Gaas offers customers natural gas in the form of pipeline gas, compressed natural gas (CNG) and liquefied natural gas (LNG), and operates the largest gas network in Estonia. The company is actively engaged in international energy trade and develops a renewable energy portfolio in the form of solar energy and green gas biomethane production and sales.
Eesti Gaas operates in Finland, Latvia, Lithuania and Poland under the Elenger brand. The group has a total of 50,000 customers. Since 2016, when the company was acquired by Infortar, one of the largest investment companies in Estonia, Eesti Gaas has grown into the largest energy company with private capital in the Finland-Baltic region, more than 70 percent of the company’s sales are generated on export markets.