Eesti Gaas’ market share in Finland reached nearly 40 percent
Eesti Gaas, the largest privately owned energy company in the Baltic and Finnish regions, has increased its market share on the Finnish gas market to nearly 40 percent, the company started operations in Finland four years ago.
“Direct deliveries of LNG from the United States and Norway and close cooperation with the Klaipeda and Inkoo terminals have brought us trust and customers – we can control the deliveries ourselves and make the price more favorable for the customer,” said Margus Kaasik, chairman of the board of Eesti Gaas.
“Finnish industry relies on gas, compared to Estonia, they have more industry, and the last six months, when gas prices have gone down, also show an increase in gas use in Finland – old customers are coming back and new ones are added for us,” Kaasik said.
In February of this year, Eesti Gaas announced its expansion to the Polish market and in March to the Latvian domestic gas market. In April, the company signed a EUR 120 million contract to acquire the Latvian natural gas distribution network.
Eesti Gaas operates in Finland, Latvia, Lithuania and Poland under the Elenger brand. Eesti Gaas offers its customers natural gas in the form of pipeline gas, compressed natural gas (CNG) and liquefied natural gas (LNG) and manages 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.
Infortar, the owner of Eesti Gaas, has announced its intention to go public. Infortar’s balance sheet amounts to 1.1 billion and equity capital to 569 million euros. The company operates in five countries, the main areas of activity are energy, shipping and real estate. The Infortar Group has a total of 47 subsidiaries. Infortar owns a nearly 41% stake in AS Tallink Grupp, a 100% stake in AS Eesti Gaas and a versatile and modern real estate portfolio.