Elenger secures half of next heating season’s gas supply
The fifth LNG cargo ordered by Elenger this spring arrived today at the Port of Inkoo in Finland from the United States, enabling the largest privately owned energy company in Finland and the Baltic states to secure half of its customers’ gas supply for the upcoming heating season.
Arctic Aurora, Klaipeda
“By the beginning of summer, Elenger has secured the gas volumes needed for next winter. Half of the required supply has already arrived in our region via the ports of Inkoo in Finland and Klaipėda in Lithuania, while agreements for the remaining deliveries have been concluded for the autumn,” said Margus Kaasik, Chairman of the Management Board of Elenger.
“In addition, we expect that during the next heating season around 15% of the gas consumed in Estonia will be produced locally at biomethane plants. Gas is becoming increasingly local and renewable with every passing year,” Kaasik added.
“The Inčukalns underground gas storage facility, which plays a key role in ensuring security of supply for the Finland-Baltic region, is being filled according to plan, so there is no reason for concern about gas availability this winter. Natural gas prices have fallen by around 20% over the past few weeks, and further price movements will depend primarily on developments in the Strait of Hormuz,” Kaasik said.
A total of five LNG cargoes have arrived during the spring—three at the Port of Inkoo in Finland and two at the Port of Klaipėda in Lithuania. Additional deliveries are scheduled for the autumn.
Elenger is the largest privately owned energy company in the Baltic states and Finland, operating across the entire energy value chain—from energy trading and production to sales and delivery to end customers. The company serves more than 450,000 customers and employs more than 1,000 people.
Elenger supplies customers with Western-origin natural gas and renewable biomethane and operates approximately 9,000 kilometres of gas distribution networks in Estonia, Latvia and Poland. The company also sells electricity, including renewable electricity generated at its own solar parks, and is actively engaged in international energy trading. Elenger is owned by the investment company Infortar, which is listed on the Nasdaq Tallinn Baltic Main List.
