The energy ministries, regulators and transmission system operators of Estonia, Latvia, Lithuania and Finland have agreed on a roadmap setting out a process for the future regional integration of the gas markets of these four countries, the European Commission announced on Monday 20 April.
By removing many of the remaining divisions between four relatively small national markets, this cross-border merger of gas markets, the first of its kind at the level of four countries in the European Union, will provide various benefits for the Baltic region, the Commission believes.
According to the institution, this “will reinforce the security of supply in this region strongly dependent on imported gas, increase market liquidity and foster competition, resulting in affordable gas prices and high quality service for all consumers in these countries”.
The Commission furthermore considers that this pioneering initiative will contribute to increasing the production of renewable and decarbonised gases in the region, by pooling demand and supply of these gases, thus making a positive contribution to the objectives of the European Green Deal. (Original version in French by Damien Genicot)