GET Baltic to become part of EEX Group: a further step towards a Pan-European Gas Market

After an international tender process, the European Energy Exchange AG (EEX) and GET Baltic, the regional gas exchange operating in the Baltic states and Finland, are announcing their strategic partnership. The transaction will enhance EEX's strong position as European natural gas trading operator and will further improve liquidity on gas markets.

Under the terms of the agreement, 66% of the shares of GET Baltic will be acquired by EEX, in a value of EUR 6.5 million. The price reflects the financial performance of GET Baltic in the year 2022 with a revenue of EUR 1.61 million and an EBITDA of EUR 0.93 million. The decision was taken by the Board of Amber Grid and is pending approval of Amber Grid's shareholders. This is expected to take place at the next General Meeting on 7 April 2023.

Peter Reitz, CEO of EEX, outlines the added value of the deal for both customers and the further growth of the EEX Group: "The gas markets of GET Baltic are a valuable addition to the existing gas offering and clearing services of EEX Group. Together with GET Baltic, we want to strengthen the gas markets in the Baltic Sea Region and further integrate them with the European gas markets. Our expertise in the development and operation of the European gas markets forms an optimal basis for this. Therefore, we are very pleased to have been awarded the contract for the acquisition of the majority shares in GET Baltic."

The companies plan to offer a harmonised European gas trading platform that includes both short-term and long-term products as well as clearing services, in line with best market practices.

GET Baltic is a significant market player in the region, having supplied 17% of total gas consumed in the Baltic and Finnish markets in 2022 (12% in 2021). In 2022, a volume of 7 TWh of natural gas was traded on the GET Baltic exchange.

Find more information on the website of Amber Grid: https://www.ambergrid.lt/en/for-media/press-releases/european-energy-exchange-ag-selected-strategic-partner-of-get-baltic/800