Regarding the situation in Ukraine
On February 24, Russia’s invasion of Ukraine escalated into a full-scale war. The European Union, the United States and several other countries have imposed extensive sanctions on Russia.
As of today, sanctions do not directly affect the gas sector, and gas supply in our region is operating normally. All Baltic states have declared that they will keep their gas infrastructure open.
The goal of Eesti Gaas is to do everything in our power to ensure the gas supply to our customers and the fulfillment of contractual obligations. We have gas reserves in the Latvian storage facility and a contract with the Klaipeda LNG terminal. We are actively sourcing gas to reduce supply security risks. We cooperate with state institutions. As the geopolitical situation continues to be hectic and energy prices remain high, it is advisable for everyone, if possible, to review their energy consumption and think about personal energy security.
In broader picture, more LNG is arriving in Europe today than ever before and will continue to do so. Finland and Estonia are already connected by the Balticonnector gas pipeline, and the GIPL gas pipeline between Lithuania and Poland will soon be launched, connecting our region to Central Europe. The European Commission sees natural gas as an important transition fuel, a partner for renewable energy and sees the situation as an opportunity to open up the market to various gas suppliers and technological developments.