Eesti Gaas is cutting gas prices by nearly another 30 per cent

From 1 February 2023, Eesti Gaas will reduce the price of gas by almost 30 per cent compared to the current price. The new price will be 1.25 euros/m³ including VAT.

From February, the price of Eesti Gaas’ flexible package for domestic customers will be 1.25 euros/m³ instead of 1.75 euros/m³. This is the lowest known price in Estonia.

‘Europe has been stocking up for fear of gas shortages, and the stockpile is significantly higher than during this period in previous years. At the same time, due to the warm weather and energy cost savings, the tanks are emptying slowly, which has also reduced demand and brought down the world market price,’ explained Raul Kotov, Member of the Management Board of Eesti Gaas.

Eesti Gaas has lowered the gas price for customers several times this year. ‘Whether we can continue the downward trend depends on the weather conditions and changes in demand. For our part, we are also prepared for an increase in gas consumption and have secured supplies of LNG for the coming months,’ Kotov said. ‘We are also already working on securing additional LNG supplies in the first months of the year.’

The company has delivered gas in the volume of five large LNG carriers this year. In May, the gas tanker Aristidis arrived at the Klaipeda terminal from the United States. In June, Diamond Gas Crystal arrived from the US and Arctic Princess from Norway, in October, Isabella from the US, and in November, Arctic Aurora from Norway.

Eesti Gaas offers customers natural gas in the form of pipeline gas, compressed natural gas (CNG) and liquefied natural gas (LNG) and operates the country’s largest gas network. 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, Latvia, Lithuania and Poland under the Elenger brand. The group has a total of 50,000 customers. After the company was acquired by Infortar, one of the largest investment companies in Estonia, Elenger has grown into the largest privately owned energy company in the region, more than 70 percent of the company’s sales come from  export markets.