Eesti Gaas once again lowers the price of gas

Similar to previous months, Eesti Gaas will also lower the price of the flexible package for home customers in April – if in February the gas price dropped by half, now it will drop by an additional twelve percent – the new gas price will be 0.74 euros/m3 instead of the current 0.84 euros/m3 including VAT, which is known to be the lowest price in Estonia.

“Regarding the global price of gas, there is only good news – the weather is warmer than average, the tanks are full and a full turn has been made for LNG gas of western origin. Ignorance and uncertainty are leaving the price, gas is once again the most affordable heating, gas is back in the competition,” said Margus Kaasik, chairman of the board of Eesti Gaas.

“If favorable circumstances come together, it cannot be ruled out that the market price of gas will remain at 50-60 euros/MWh for longer, there are estimates that until next spring, which in turn gives all customers more confidence and the opportunity for those customers who used other fuels in the meantime to return to gas, Kaasik noted.

Eesti Gaas has made agreements regarding the order of ten gas ships until the fall of this year – three will be delivered to the port of Klaipeda in Lithuania in the winter and seven to the port of Inkoo in Finland in the spring and summer. In mid-January, this year’s first shipload of liquefied natural gas (LNG) from the United States arrived at the port of Klaipeda in Lithuania on behalf of Eesti Gaas. The next ship will be brought to Klaipeda in March. Last year, Eesti Gaas brought five gas tankers to Klaipeda with gas from Norway and the United States.

Eesti Gaas offers customers natural gas in the form of pipe gas, compressed natural gas (CNG) and liquefied natural gas (LNG) and manages the country’s largest gas network. 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 region, more than 70 percent of the company’s sales are sales on foreign markets.

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