Eesti Gaas to lower natgas price by further 7 pct

TALLINN - In addition to a previously announced drop in the price of natural gas, Estonian gas and electricity seller Eesti Gaas is to further lower the price for its flexible package for household consumers by 7 percent, which means that the price will be 0.69 euros per cubic meter with VAT from May 1 and 0.64 euros from June 1.

Compared with the peak price of 2.85 euros per cubic meter last fall, the price for Eesti Gaas' household customers has dropped over 77 percent. The biggest price reductions occurred in December 2022 and February 2023, when Eesti Gaas lowered its natural gas prices by 35 percent and 50 percent, respectively, the company said.

"The drop in natural gas price for customers is facilitated by the global price falling to pre-war levels and by the large liquefied natural gas deliveries we have ordered; we're generally the first ones in the market to lower the price," chairman of the management board of Eesti Gaas Margus Kaasik said.

Eesti Gaas has brought five shiploads of LNG to the Port of Klaipeda in Lithuania and Port of Inkoo in Finland in the first four months of 2023, as many as during the entire last year. This week, Eesti Gaas announced that it has ordered an additional LNG delivery to be made to Inkoo.