Estonia´s Eesti Gaas, a large private energy company in the Finland-Baltic region, has sealed agreements with LNG terminals to bring a total of ten LNG cargos by the fall of this year, including 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.
Eesti Gaas has grown into a large private energy company in the Finland-Baltic region, with more than 70 percent of the company’s sales coming from export markets, especially after its acquisition by Infortar, one of the biggest investment firms in Estonia.
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.
“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.
As the company says, 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.
Eesti Gaas offers its 50,000 customers natural gas in the form of pipeline gas, compressed natural gas (CNG) and liquefied natural gas (LNG).
The company, which operates in Finland, the Baltic states and Poland, is actively developing a renewable energy portfolio in the form of solar energy and biomethane production and sales.