Gasum, Eesti Gaas Sign MoU to Introduce Gas Exchange in Estonia

Gasum Oy and Estonia’s leading gas company AS Eesti Gaas have signed a Memorandum of Understanding on 21 December 2011 for a project that aims to establish a jointly owned natural gas exchange in the Estonian gas market.

The Memorandum of Understanding comes after a similar agreement in November between Gasum and Lithuanian gas company Lietuvos Dujos to establish a natural gas exchange in Lithuania. The agreement between Gasum and Eesti Gaas confirms a long-term objective in which Finland and all the Baltic countries would function as a single common market with a regional natural gas exchange. In the future, the regional gas exchange would also be advantageous for the planned LNG-terminals in the Baltic Sea Area.

The co-operation will be based on experiences in natural secondary gas trading in Finland and the operations of Gasum’s subsidiary Kaasupörssi Oy. Kaasupörssi’s web-based trading system has been developed together with customers and the software company Process Vision for over ten years already.

The co-operation project between Eesti Gaas and Gasum will create excellent conditions for developing Estonia’s gas markets. The initial aim of the co-operation project is to modernise the structure of the Estonian natural gas trading system to make it technical feasible to trade natural gas by means of an exchange-based system.

LNG World News Staff, January 3, 2012; Image: Eesti Gaas

 

Share this article

Follow LNG World News

One thought on “Gasum, Eesti Gaas Sign MoU to Introduce Gas Exchange in Estonia”

Comments are closed.

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >