According to the Government’s press release, the need to merge these energy resource exchanges has arisen in an effort to effectively use state funds and guarantee the best result during the development stage of the gas market. This way competences of natural gas exchange development and administration would be concentrated in a single centre, thus creating an economy of scale – the single competence centre would organise trading of various raw materials and derivatives, while participants would be serviced based on a one-stop-shop principle.
The creation of a unified natural gas exchange would facilitate attracting regional partners into Lithuania’s natural gas market, the Government says.
The Ministry of Energy and the Ministry of Finance will have to take relevant decisions over the merger of Baltpool and GET Baltic.
Currently there are two natural gas exchanges in Lithuania: Baltpool energy resources’ exchange that was established in 2009 and GET Baltic natural gas exchange was established in 2012.