European Energy Exchange AG (EEX) and the Lithuanian gas transmission system operator Amber Grid have completed the strategic process started back in 2023 – the transfer of shares of GET Baltic to the partner that won the international public tender.
In the first phase, in 2023, after approval from Amber Grid’s board and shareholders’ meeting, and having evaluated GET Baltic’s financial results, 66% of the shares were sold for €6.5 million. The current transaction for the remaining 34% of shares has been valued at €3.8 million.
During the interview with The Voice of Renewables, Amber Grid CEO Nemunas Biknius said: “GET Baltic becoming part of the European Energy Exchange AG (EEX) group marks a significant step in the natural gas market of our region – Lithuania, Latvia, Estonia, and Finland. The integration of our developed exchange into one of Europe’s largest energy exchanges has strengthened regional market liquidity and has already increased competition. The implementation of advanced trading tools and access to more services creates value for both exchange participants and gas consumers. Since 2023, EEX has fulfilled all agreements, and this integration reflects the needs and interests of our region.”
In addition, Amber Grid’s CEO adds that the GET Baltic project and this deal with EEX is a major success for the state – not only due to the benefits for market participants but also in terms of investment return: “We initially invested just under one million euros in launching this activity, and thanks to the consistent and professional work of the team, we have achieved excellent results – the total deal is valued at just over €10.3 million.”
EEX CEO Peter Reitz comments: “This development further strengthens our position in the region, particularly in the European natural gas markets. It also reaffirms our commitment to offering an expanded range of trading opportunities to both existing and newly joined members. GET Baltic is a strong and reliable partner, and we are proud to have them as part of the broader EEX Group.”
GET Baltic CEO Giedrė Kurmė confirms: “By acquiring the full shareholding, EEX becomes an integral part of the energy landscape in the Baltic States and Finland. Together, we can leverage the best qualities of both organizations to accelerate regional integration, increase market transparency and efficiency. The GET Baltic team will remain a regional center of excellence for further gas market development and will continue to work closely with clients locally.”
