Eesti Gaas started using gas storages in Poland and Germany
Eesti Gaas has stored gas for the upcoming heating season not only in the underground gas storage facility in Latvia but, for the first time, also in Poland and Germany.
LNG tanker Isabella
“Since spring, we have been stocking up on gas for the winter. As we now operate all across from the Arctic Circle to the German border, we utilize storage facilities in multiple countries,” said Margus Kaasik, Chairman of the Board of Eesti Gaas.
“Currently, gas prices are lower than they were last winter. If no extraordinary events occur in the market, prices could continue to fall by spring. There is also reason for long-term optimism – several new LNG terminals and export projects are nearing completion, and the global gas market is shifting from a structural deficit to a surplus, which should lead to even lower prices,” Kaasik added.
“During the heating season, renewable energy will continue to need support from gas, both now and in the future. On the coldest days, gas covers half of Estonia’s energy demand. If we had relied solely on electricity for heating last January, homes across Estonia and the wider region would have been cold and dark,” said Kaasik.
During the last heating season, gas consumption in Estonia increased by nearly 40% compared to the previous period, and in Finland and the Baltic region by as much as 50%. This increase was driven by a colder-than-average winter, a sharp decline in gas prices, and new supply routes from the West. Gas consumption in Estonia from October to February last year reached 2.45 TWh, with the highest usage in January (0.73 TWh). In Finland and the Baltic region, total gas consumption during the same period reached 26 TWh, peaking at 7.1 TWh in January.
The Baltic-Finnish region’s gas supply is primarily supported by the Klaipeda and Inkoo LNG terminals. Natural gas, mainly sourced from the U.S. and Norway, is transported in liquefied form (LNG) to these terminals, where it is regasified and delivered through pipelines to customers. Eesti Gaas imports about one-third of the region’s gas supply and has secured 15 delivery slots at the Inkoo terminal and three at Klaipeda this year.
Beyond heating and electricity production, natural gas is also essential in industrial processes and as a raw material for the chemical industry. Natural gas, with its high calorific value and low carbon content, is a clean fuel that plays a crucial role in the transition to renewable energy across Europe and globally.
Eesti Gaas is the largest privately-owned energy company in Finland and the Baltic region. The group operates in six markets—Finland, Estonia, Latvia, Lithuania, Poland, and Germany—and serves over 400,000 customers. Its business portfolio spans energy sales and trading, energy infrastructure, and energy production.
Eesti Gaas offers its customers natural gas of Western origin and self-produced biomethane, and operates the largest gas distribution networks in Estonia and Latvia. The company also sells electricity, including green electricity produced in its own solar parks. Eesti Gaas group employs 900 people and reached a turnover of €1.022 billion last year. Outside its native Estonian market, Eesti Gaas operates under the Elenger brand.
