Analytics, Energy, Gas, Gas Market , Good for Business, Latvia

The company said that along with opening of the natural gas market on January 1, interest from Estonian and Finnish consumers about use of Incukalns storage facility has risen considerably. Of the amount pumped out of Inuckalns storage, 25% of 893 GWh went to Finland, and 16% or 562 GWh went to Estonia.

Conexus representatives also said that in the past three months - from November until late January - the amount of gas pumped out of the storage rose by 26% from the respective period a year ago.

Because of the warm weather conditions, demand for natural gas in Latvia has dropped by 30%, but increased interest from the Estonian and Finnish markets has ensured the balance, which is important for technical operations of the storage.

Conexus board chairwoman Zane Kotane said that the main benefit is accessibility of the Incukalns underground natural gas storage and strengthening of its position in international market.

So far, 38% of the gas pumped into the storage early this season, have been used.

Conexus Baltic Grid, which has taken over natural gas storage and transmission functions from Latvijas Gaze, was established on December 22, 2016. Conexus is Latvia’s natural gas transmission and storage operator managing the Underground Gas Storage facility in Incukalns and the gas transmission system connecting the Latvian gas market with Lithuania, Estonia and the northwestern region of Russia.

Conexus belongs to Augstsprieguma Tikls (34.36%), Gazprom (34.1%) and Marguerite Gas I (29.06%).