Eesti Gaas has made agreements with LNG terminals to bring a total of ten LNG cargos by the fall of this year – three deliveries to the port of Klaipeda in Lithuania in the winter and seven to the port of Inkoo in Finland in the spring and summer.
“Our gas now comes from the west and by tankers, cooperation with both large LNG terminals in the Finnish-Baltic region and the gas storage in Latvia gives us stability. Our ten LNG cargos will bring security of supply to customers and, hopefully, together with the gas also comes price stability,” said Margus Kaasik, CEO of Eesti Gaas.
“In the big picture, natural gas is making a comeback. The use of natural gas is increasing again since the security of supply in Europe is good and the price is in a downward trend. Gas price has returned to pre-war price levels, and gas is once again cheaper than, for example, light heating oil or propane. Several customers on our different markets, who used alternative fuels in the meantime, are already returning to natural gas today,” Kaasik said.
Last year, Eesti Gaas procured five shiploads of LNG for its customers through the port of Klaipeda. The LNG tanker Aristidis I from the United States arrived at the Lithuanian Klaipeda terminal in May, Diamond Gas Crystal from the United States and Arctic Princess from Norway in June, Isabella from the United States in October, and Arctic Aurora from Norway in November.
In January, Equinor’s LNG tanker Isabella delivered this year’s first cargo from the United States to the Lithuanian port of Klaipeda. In March, Eesti Gaas will bring two more cargos to Klaipeda and in the spring and summer seven more to Inkoo.
Eesti Gaas offers customers natural gas in the form of pipeline gas, compressed natural gas (CNG) and liquefied natural gas (LNG). The company is actively developing a renewable energy portfolio in the form of solar energy and biomethane production and sales.
Eesti Gaas operates in Finland, the Baltic states and Poland. 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 private energy company in the Finland-Baltic region with more than 70 percent of the company’s sales coming from export markets. Outside Estonia the company carries Elenger brand name.