Results of Eesti Gaas in 2016

Last year, AS Eesti Gaas sold 489 million m3 of gas; the 2015 reference number was 383 million m3. Thanks to a favourable price, the annual sale of gas increased by 106 million m3, or about 28%.

The largest increase occurred in the fourth quarter, with 55 million m3 more gas sold compared to the same period last year.

Eesti Gaas has succeeded in growing its sales through a competitive gas supply agreement, in addition to increasing gas consumption due to the cold winter,” explained Ants Noot, Managing Director of Eesti Gaas. “The gas market as a whole has grown, and the state has earned more money thanks to it,” Noot added.

“Regarding the outlook for the future, we are, unfortunately, more pessimistic. The continued sharp increase in gas duties puts an additional burden on our customers and unjustifiably hinders the development of the gas market, leaving the potential of clean fuel unused,” added Noot, referring to the decision of the coalition to increase the price of natural gas excise tax between 2018 to 2020 by another 25% per annum. “The potential differences in taxation for a large company can mitigate the impact on them, but it will not save the situation for the Estonian industry as a whole since the excise tax will strongly affect all energy-intensive businesses and will inhibit the Estonian economy. It would be more beneficial for the gas market to develop and, through that, generate more tax revenue. ”

In 2016, 59 million m3 of natural gas was sold to private customers, compared to 55 million m3 in 2015. Business consumers purchased 430 million m3 of gas over the course of the year; in 2015 that reference number was 328 million m3, meaning an increase of 102 million m3.

Consumption of natural gas for transport grew by 33%, leaping from 3.4 million m3 to 4.5 million m3. “Over the course of the year, a large number of people have started preferring natural gas as motor fuel; the cost difference with gasoline is about twofold. Foremost local authorities also prefer to use the more environmentally friendly natural gas for public transport. For example, we recently signed a contract for the refuelling of AS SEBE gas buses in Pärnu and, for this purpose, will build a new compressed gas fuelling station that will be completed this July. We hope that in the Tallinn city transport structure, a clear direction will be also taken to reduce pollution and improve the living environment of the people, “Noot said.

Eesti Gaas sold 14.4 GWh of electricity; the volume of electricity sales increased by 48% compared to last year, and the number of customers grew nearly four times. “Our electricity sales volumes are still relatively modest, but progress is noticeable and promising. The results of the autumn sales campaign will have a bigger impact this year and we intend to continue to be active on the electricity market, “commented Noot.

The beginning of this year will bring about a historic milestone for Eesti Gaas – namely, the company will start providing a new Tallink vessel operating on the Tallinn-Helsinki route with liquefied natural gas (LNG), at the end of January. “Delivering natural gas to Megastar is our first major LNG project in maritime transport, and in the coming years, the objective of Eesti Gaas is to successfully expand its product portfolio in the direction of LNG,” Noot said.

AS Eesti Gaas is concerned with the sale of natural gas and electricity. The Group also includes AS EG Ehitus, specializing in the design and construction of gas pipelines and facilities, as well as AS Gaasivõrgud, which provides distribution services. Eesti Gaas employs over 200 people, has 1,600 business customers and 42,000 private customers.

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