Eesti Gaas ordered an additional LNG cargo
In order to cover the increased gas demand, Eesti Gaas, the largest privately owned energy company in the Baltic-Finnish region, in cooperation with the global energy giant Total, brought an additional shipload of LNG from the United States to the Finnish Inkoo terminal last week.
“There are two reasons for this extra supply – the Eesti Gaas group has increased its gas sales market share in our region during turbulent times and, in general, the use of gas has increased. The originally planned ten cargoes until autumn were not going to be enough and it is possible that one more additional delivery will have to be made in the summer, besides the given additional cargo,” said Margus Kaasik, CEO of Eesti Gaas.
“As a private company, Eesti Gaas has been able to react and make decisions more quickly to meet the market needs, our direct contracts with gas suppliers have increased consumers’ interest and trust in us – we are one of the few in the region to buy and bring LNG ourselves, from the United States and Norway, this allows us to offer our customers a more favorable price and more reliable delivery,” Kaasik reasoned.
Eesti Gaas’ share in the gas sales in the Baltic and Finnish region increased to 17.5 percent last year, the company has grown into the largest private energy company in the Baltic-Finnish region. In February of this year, the company announced its expansion to the Polish market. Last year, Eesti Gaas procured five large shiploads of gas for its customers, this year five deliveries have been made in four months.
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.