Estonia manages to buy 250 GWh of gas but forced to pay more

Gas. Source: KWON JUNHO / Unsplash

The government has allocated €63 million to the Estonian Stockpiling Agency to pay for 250 gigawatt-hours of gas purchased at the third national tender for natural gas stockpiles. Three tenders have now filled half of the government's target of 1 terawatt-hours.

"We increased the share capital of the Estonian Stockpiling Agency by €63 million to ensure gas supply in Estonia. The decision concerns the agency's third gas procurement. We managed to add 250 gigawatt-hours of gas to 200 GWh already procured with the previous two tenders, coming now to nearly half of our target of one terawatt-hour, "Minister of Economic Affairs and Communications Riina Sikkut (SDE) said.

She added that the third tender saw more bids than the earlier ones, adding that, unfortunately, the price of gas has grown even more since then.

"We paid less with the first two tenders. But we have now reached the half-way point in terms of our strategic stockpile. This lends certainty that we will have enough gas for necessities," Sikkut added.

Estonia paid €252 per a megawatt-hour of gas at the third tender, up from €192 at the second. The first and second tender yielded 100 GWh of gas each.

€170 million has been earmarked for the purpose of creating strategic gas stockpiles in the May supplementary state budget.


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Editor: Marcus Turovski

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