Eesti Gaas once again lowers the price of gas

In addition to the already announced gas price reduction from May, Eesti Gaas will reduce the price of the flexible package for household customers by another seven percent in June. From May 1, the price is 0.69 euros/m3 and from June 1, 0.64 euros/m3 including VAT.

From the autumn peak price of 2.85 euros/m3, the price for Eesti Gaas’ houshold customers has fallen by more than 77 percent in six months. Larger gas price reductions took place in December of last year and in February of this year, when Eesti Gaas reduced the price of natural gas by 35 and 50 percent, respectively.

“The drop in the global gas price to the pre-war level and the large LNG supplies we order both help us bring down the gas price for our customers. We have usually been the first on the market to lower the price,” said Margus Kaasik, Chairman of the Board of Eesti Gaas.

“We are one of the few in our region to supply gas directly from producers from the United States and Norway to the terminal of Inkoo in Finland and Klaipeda in Lithuania. This has enabled us to offer our customers better conditions and increase the company’s market share in the sale of natural gas in the Baltic-Finnish market to 17.5 percent. We have become the largest private energy company in the region,” said Kaasik.

In the first four months of 2023, Eesti Gaas has already brought five gas cargoes to the ports of Klaipeda in Lithuania and Inkoo in Finland, which is the same number as in whole 2022. This week, Eesti Gaas announced the order of one additional cargo to the Inkoo terminal in addition to the ones originally planned.

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 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 its sales are generated on export markets.

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