Energy regulators and politicians in the Baltic States are considering the possibility of creating a single gas market to facilitate mutual trade. It is possible that after laying the gas pipeline between Estonia and Finland, the latter will also join the common market.
As the Lithuanian Member of the Commission on Prices, Vigantas Vaitkus, informed the news Agency BNS, the negotiations have just begun and they will continue for several years. The Baltic Regional Working Group was formed to discuss this matter.
The main goal of the new model is to ensure that there are no extra fees at the border of each country for the transportation of gas; the accounts would remain only at the outer borders of the Baltic States, Vaitkus said.
A member of the Management Board of the holding company Lietuvos Energija, Dominikas Tuckus, noted that with the creation of a common gas market prices will start to level off. Competition in retail trade will increase and the consumers will benefit.
“Of course, much depends on what strategy Gazprom will choose, and what the price trends will be. However, if trade flows between the two countries, they will definitely grow,” he added. Lithuanian officials note that Latvia is in a better position to issue a single gas market than Lithuania and Estonia.