Joint Finnish-Estonian Gas Exchange to Be Set Up
Eesti Gaas and the Finnish gas company Gasum have signed a protocol of joint intent for setting up a regional natural gas trading exchange.
The December agreement is the next step after a similar understanding was reached between Gasum and Lithuanian firm Lietuvos Dujos to establish a gas exchange in the southernmost Baltic state, said Eesti Gaas and Gasum.
The step is a key phase in preparation for managing the gas supply after liquefied natural gas terminals are built, and is also expected to help shape a fair price of gas where different sources of gas compete against each other instead of merely gas against other sources of energy.
Currently Russian Gazprom is the only supplier of gas to Estonia. It holds slightly over one-third of Eesti Gaas
Gasum's subsidiary Kaasubörssi has ten years of experience on the natural gas market, using a Web-based trading system developed with customers and the software developer Process Vision.
Kristopher Rikken