At the beginning of 2024, gas consumption level has increased significantly. Yesterday, January 4, gas demand reached 130 GWh/day which was the highest daily consumption since December 2021. Due to cold weather and extremely high electricity prices, it is foreseen that gas demand will be, at least, on the same level also today. The inventory level of Inkoo LNG Terminal vessel was approximately 525 GWh on January 5 at 07:00 EET.

Gasgrid Finland as a TSO with System Responsibility activated Inkoo LNG Terminal LNG delivery service. By the service, 100 GWh of LNG is purchased by the TSO for ensuring sufficient market-based and cost-efficient system balancing and mitigating the risk of inadequacy of gas in the extraordinarily cold period. This 100 GWh cargo is expected to arrive at Inkoo LNG terminal before the following commercial cargo is scheduled by the Floating LNG Terminal Finland to arrive on 11th of January. Gasgrid Finland strives to implement the balance management measures required to maintain the balance of the system. The target is to make correctly measured balancing actions in relation to the need of the gas system, also taking into account cost-efficiency of balancing for the market participants. Gasgrid Finland emphasizes that the delivery service activation does not have impact on the operations of market participants and Finnish gas market is operating fully on a market-basis.

There have been remarkable market imbalances in the past few days. However, the market status has remained stable. The TSO requests market participants to draw special attention to balance management as the gas demand is estimated to be close to maximum available entry capacity to the Finnish gas network.