Natural Gas Transmission System Operator
06.11.2015
AB Amber Grid will own a controlling stake of the Natural Gas Exchange GET Baltic

In pursuit of the strategic goal of development of a competitive regional natural gas market, on 6 November 2015, AB Amber Grid acquired from AB Lietuvos Dujos a 34% stake in UAB GET Baltic. The value of the transaction is EUR 130,832.

After the transaction, AB Amber Grid became the main shareholder of UAB GET Baltic and will control 66% of its authorized share capital. The Finnish natural gas company, Gasum Oy, owns the remaining 34% stake.

“One of the strategic objectives of the state-owned AB Amber Grid is to form a single regional gas market in cooperation with the gas transmission system operators of the Baltic region, in order to increase the market liquidity, competitiveness, to attract new market participants. The Natural Gas Exchange is a very important tool in terms of increasing competition in the market, as well as  the regional gas trading platform would speed up the formation of the regional market.  This is the main reason behind the company’s acquisition of the shares” – said the Vice Minister of Energy and Chairman of the Board of Directors of AB Amber Grid, Dr. Aleksandras Spruogis, about the importance of this transaction.

UAB GET Baltic is a company with a natural gas market operator's license, whose main function is to arrange for trading and develop the Natural Gas Exchange.

Currently, the trade is arranged for the Lithuanian market. In the longer-term perspective it is planned that UAB GET Baltic will become a Regional Natural Gas Exchange, e. i. operating in all Baltic countries, with the involvement also of other Baltic region transmission system operators.
 

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