Gintaras Buzkys, CEO of the market, said the gas trade volumes in Lithuania had soared by a factor of nearly 100 after the expiry of the Gazprom discount applied to Lietuvos Duju Tiekimas (Lithuanian Gas Supply) on gas price.

Throughout July, merely one megawatt-hour of gas was sold in Latvia, as compared with 145 MWh in Estonia and nearly 80,000 MWh in Lithuania, which is a climb by a factor of nearly 100, from 814 MWh) year-on-year.

In his words, the Latvian and Estonian companies do not sell on the market, as they have not yet completed internal processes and do not have a strategy on gas trading on the market.

"We are in contact with the companies willing to join the market on a daily basis. We currently have about 10-15 companies in Latvia and Estonia willing to trade, however, the processes take time and cannot be taken care of within a few days," said Buzkys.

Companies registered on the Latvian bidding zone of the market include Lietuvos Duju Tiekimas, Eesti Energia, Latvijas Gaze, Aj Power Gas, Baltic Energy Partners, Eesti Gaas, etc., while companies on the Estonian zone include Eesti Energia, Elering, Alexela Energia, Baltic Energy Partners and Eesti Gaas.

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