Another step forward in the Finnish and Baltic gas market integration: Kaasupörssi Oy operations to be closed and GET Baltic will provide gas exchange services for the Finnish gas market starting from 01.01.2020.
Gas transmission system operator (TSO) Gasum Oy and Baltic gas exchange operator UAB GET Baltic have entered to an agreement that leads to Kaasupörssi Oy, the current gas exchange in Finland owned by Gasum, to be closed on 1.1.2020, when the Finnish gas market is opened for competition. Simultaneously, the Baltic Gas Exchange GET Baltic, owned and operated by Lithuanian UAB GET Baltic, will start its operation in Finland. GET Baltic will provide the Finnish market gas exchange services in the open market.
“We expect the services GET Baltic will introduce to the Finnish market to improve cross-border trading opportunities– adding up to liquidity, competition and transparency, all of which can be seen marks of a well-functioning gas market. This agreement was a joint effort together with GET Baltic and our TSO team”, says Janne Grönlund, Gasum Chief Operations Officer of the transmission system operations unit.
”By signing this agreement, GET Baltic has made another step towards the creation of a one-stop-shop for a natural gas trading in the Finnish - Baltic gas market. Deeper wholesale market integration and liquidity concentration on the one common trading platform will enlarge the network of energy traders, regional market attractiveness and will create favourable conditions for new gas market players to enter the open Finnish gas market”, says Gintaras Buzkys, GET Baltic Chief Business Development Officer.