Latvenergo’s energy trading company in Estonia – Elektrum Eesti – has commenced selling natural gas to business clients, as confirmed by the company.
Elektrum Eesti is the second largest electrical energy trader in Estonia. Now it will also start selling natural gas in addition to electricity, expanding the company’s services. The company will offer gas at fixed prices at first. There are also plans to offer combined electricity and gas offers.
“As the largest electricity traders in the Baltic States, our entry into the gas market is a logical step forward. Following the opening of the gas market, we began natural gas trade in Latvia. Now we can do the same in Estonia. Improvements of transmission tariffs have helped improve gas transportation opportunities between countries, expanding trade opportunities in neighbouring markets,” says Latvenergo sales director Uldis Mucinieks.
Continuing, Mucinieks adds: “Extensive experience working with clients in Latvia and Estonia helps us create comprehensive and convenient offers. Our significant gas consumption volume in Latvia provides our clients a sense of security and stability about supplies.”
Elektrum Eesti has already signed the first gas supply contracts. There are currently approximately 50,000 gas consumers in Estonia. 2,000 of them are corporate clients.
The Baltic region has certain differences in gas-consumption models. Gas supplies in Latvia are more developed and expansive, with annual gas consumption reaching 14.4 TWh. In Estonia, gas consumption is nearly three times lower (5.4 TWh). (BNN/Business World Magazine)