Elenger to bring five LNG cargoes to the region during the upcoming heating season
Elenger, the largest privately owned energy company in the Baltic-Finnish region, will bring three LNG cargoes to the ports of Klaipėda in Lithuania and Inkoo in Finland during the final months of this year, followed by two additional cargoes at the beginning of next year.
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According to Margus Kaasik, Chairman of the Management Board of Elenger Group, the company is well prepared for the upcoming heating season. “There are no issues with the availability or supply of natural gas. We can confirm today that gas supplies for our customers are secured for the upcoming heating season,” Kaasik said.
“The Inčukalns gas storage facility in Latvia currently holds around 12 TWh of gas, which is a substantial volume relative to consumption in our region, including during the cold winter months,” Kaasik added.
“Developments in the Strait of Hormuz and demand from Asia have pushed up global gas prices, but according to current forecasts, this increase is temporary and natural gas prices are expected to decline significantly in the spring. As LNG production capacity and new terminals continue to be added, the market may increasingly move towards an oversupply of gas, which would put downward pressure on market prices,” Kaasik said.
“For households heating with gas, the impact of higher prices this winter will be partly offset by lower network tariffs. For customers who want protection against price fluctuations during the winter, we recommend fixing their gas price,” Kaasik noted.
Elenger sources its gas from the United States and Norway. Of this year’s deliveries, five have come from Norway and three from the United States. A further three cargoes from the United States will arrive in November and December.
Elenger is the largest privately owned energy company in the Baltic-Finnish region, operating across the entire energy value chain – from production and trading to supply to end customers. The company has more than 450,000 customers, and the group employs over 1,000 people.
Elenger supplies its customers with Western-origin natural gas and renewable biomethane and operates more than 9,000 kilometres of gas distribution networks in Estonia, Latvia and Poland. The company also sells electricity, including green electricity generated by its own solar parks, and is active in international energy trading. Elenger is owned by the investment company Infortar.
