Baltic, Energy, EU – Baltic States, Gas, Gas Market , Good for Business, Lithuania
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Friday, 19.04.2024, 21:31
Gasum will become a Market Maker on the Baltic - Finnish Gas Exchange
“We welcome Gasum who have joined our Market Maker‘s
program and demonstrated its strong commitment to the Finnish energy community.
Gasum's presence on the market in a role of Market Maker will provide
not only more liquidity, but also confidence and reliability for the Finnish
gas market players. By signing the Market Maker's Agreement with the biggest
natural gas importer in Finland we have made a final step forward in our
preparation works before the launch of new market area in Finland from 1st of
January 2020”, says Gintaras Buzkys, Chief Business Development Officer
at GET Baltic.
Market Maker is a Baltic - Finnish Gas Exchange participant,
which according to the signed Market Maker’s Agreement undertakes the
obligation to submit specific volume of buy and sell orders of natural gas
products in order to increase the ability for other Exchange participants to
enter into a transaction at a market price.
“As the leading energy company in the Finnish natural gas
market we want to take responsibility in supporting the development of a
functioning regional gas market. We see GET Baltic’s invitation to become
Market Maker as a possibility to further promote continuous trading in the
Finnish market area of the Baltic - Finnish Gas Exchange. Increased trading
activity at GET Baltic will open up new opportunities for all market
participants and most importantly also benefits customers”, says Jouni
Liimatta, Head of Trading of Gasum.
GET Baltic operates as a licensed natural gas market
operator with the status of Registered Reporting Mechanism provided by ACER.
The Company administrates the electronic trading system for trading spot and
forward natural gas products with physical delivery in the market areas located
in Lithuania, Latvia, Estonia and from 1st January 2020 Finland. The
development of tailor-made solutions for natural gas trading is intended to
contribute to increased liquidity, competitiveness and transparency of
wholesale gas markets in Finland and the Baltic States.
Gasum is a Nordic gas sector and energy market
expert. Together with its partners, Gasum is building a bridge towards a
carbon-neutral society on land and at sea. Gasum imports natural gas to
Finland and promotes circular economy by processing waste and producing biogas
and recycled nutrients in Finland and Sweden. The company offers energy for
heat and power production, industry as well as road and maritime transport.
Gasum is the leading supplier of biogas in the Nordic countries. The company
has a gas filling stations network, that also serves heavy-duty vehicles.