VILNIUS, Jan. 11 (Xinhua) -- The natural gas exchange GET Baltic has reported a record turnover of 9.1 TWh in 2023, 31 percent more than in 2022 (7 TWh). The market share held by GET Baltic also reached 23 percent of the total demand in the Baltic-Finnish region in 2023, up from 17 percent the previous year.
The growth of trading on the GET Baltic exchange was mostly influenced by infrastructure projects that were developed in the region, said GET Baltic's CEO Giedre Kurme.
These projects include the opening of the Inkoo SGD terminal in Finland in 2023, and the efficient operation of the GIPL pipeline connecting the Baltic market with Poland. Also, the Incukalns gas storage facility in Latvia reached almost full capacity in October.
The increasing attractiveness of the region encouraged the registration of new participants on the exchange, thereby increasing liquidity and competition.
In 2023, GET Baltic became part of the European Energy Exchange (EEX) group. ■
