Estonia’s government decided to increase the share capital of the country’s Stockpiling Agency (ESPA) by 30 million euros in order to increase the security of the natural gas supply for next winter as well.
The Minister of Economic Affairs and Infrastructure Riina Sikkut reminded that so far ESPA has done a great job acquiring 650 gigawatt-hours (GWh) of natural gas. However, additional funds were required to be ready for next season as well.
Due to the record-high prices and the ongoing energy transition, natural gas consumption in Estonia was reduced from 5 terawatt-hours (TWh) to approximately 3.8 TWh last year. Furthermore, the Minister noted that current imports of Liquified Natural Gas (LNG) are also helping to cover the customers’ needs.
“ESPA’s gas reserves are sufficient to ensure the security of supply to all Estonian consumers for this winter,” continued Mr Sikkut, adding that as the price of natural gas has dropped significantly, it is time for ESPA to increase gas reserves in view of next winter.
In the meantime, according to local media, ESPA has met the task set for it by the government, to establish a nationwide natural gas reserve of one terawatt-hour.