Wednesday, May 22, 2024
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Amber Grid announces a tender to select a strategic partner for GET Baltic

Lithuanian natural gas transmission system operator Amber Grid has announced the tender for the selection of a strategic partner for its subsidiary GET Baltic, a regional natural gas exchange operator.

Together with an experienced strategic partner operating in more advanced EU gas markets, GET Baltic is expected to offer gas market participants a modern, advanced solutions-based gas trading platform that includes both short-term and long-term products and clearing services in line with the best market practices.

Companies with at least 3 years of experience in organizing gas trade in short-term and long-term gas products in the European Union will be able to participate in the selection of a strategic partner.

The participant who meets the qualification requirements and offers the highest price for GET Baltic shares will be able to acquire a stake of 66 per cent in GET Baltic. The remaining part of the shares, 34 per cent, will also be sold as an option to the same investor, once it discharges the obligations under the sale-purchase agreement which is related to ensuring benefits for the regional market.

GET Baltic is a licensed natural gas market operator that has the status of a registered reporting mechanism (RRM) granted by ACER. The company administers an electronic trading system (ETS) for trading short-term and long-term natural gas products with physical delivery in the market areas located in Lithuania, Latvia, Estonia and Finland.

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