Estonian energy company, Eesti Gaas has negotiated 10 LNG cargoes to be delivered to Baltic terminals by the Autumn of this year.
Three deliveries will be made to to the FSRU terminal at Klaipeda in Lithuania this winter, while seven will be delivered to the Finnish FSRU terminal at Inkoo in the spring and summer of 2023.
"Our gas now comes from the west and by tankers - co-operation with both large LNG terminals in the Finnish/Baltic region and the gas storage in Latvia gives us stability. Our 10 LNG cargoes will bring security of supply to customers and, hopefully, together with the gas also comes price stability," said Margus Kaasik, Eesti Gaas CEO.
"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," he added.
Last year, Eesti Gaas secured five LNG shipments through Klaipeda. These were the LNGCs ‘Aristidis I’, which arrived from the US at Klaipeda in May, ‘Diamond Gas Crystal’ from the US and ‘Arctic Princess’ from Norway in June, Isabella also from the US in October, and finally, ‘Arctic Aurora’ from Norway in November.
In January, Equinor's LNGC ‘Isabella’ delivered this year's first cargo from the US to Klaipeda. In March, Eesti Gaas will import two more cargoes through Klaipeda and in the spring and summer, the seven at Inkoo.
Eesti Gaas operates in Finland, the Baltic states and Poland. Since 2016, when the company was acquired by Infortar, one of the largest Estonian investment companies, Eesti Gaas has grown into the largest private energy company in the Finland/Baltic region with more than 70% of the company's sales coming from export markets.
Outside of Estonia, the company is known as Elenger.
