Industry Oil and gas Products Natural gas Headquarters Tallinn Parent organization TRILINI ENERGY OÜ | Key people Raul Kotov (CEO) Website www.gaas.ee Founded 1990 | |
 | ||
Services Natural gas sale and distribution Subsidiaries AS EG Võrguteenus, AS Gaasivorgud, AS EG Ehitus | ||
Odavam ja mugavam elekter eesti gaasist
Eesti Gaas AS is a natural gas company with headquarters in Tallinn, Estonia. It imports, sells and distributes natural gas in the Estonian market. In addition, it sells electricity.
Contents
Eesti Gaas was established in 1990 as a state enterprise. The company was partly privatized in 1993–1995. In 1993, 30% stake in Eesti Gaas was transferred to Lentransgaz, a subsidiary of Gazprom, to eliminate the gas debt dispute. In 1994, Ruhrgas (later: E.ON Ruhrgas) acquired about 15% of the company's shares while the management of the company together with other private investors, and the UK-based Baltic Republic Fund acquired 7.5% of shares both. As a result, the Government of Estonia kept 39% stake. In December 1996, Ruhrgas increased its stake to 21%; 12% was sold to public. In January 1999, the remaining state-owned shares were sold. Ruhrgas increased its stake up to 32%, Gazprom kept its 30% stake and Neste (later Fortum) got 10% stake. Later that year Itera (now part of Rosneft) Latvian branch acquired nearly 10% stake from the Baltic Republic Fund. In following years, Gazprom increased its stake up to 37%, E.ON up to 33.66% and Fortum up to 17.7% by buying shares from private investors. In 2014, E.ON sold its stake to Fortum, which became the largest shareholder with 51.4% stake. In February 2016, it was announced that Fortum will sell its stake to Trilini Energy, a company controlled by the investment firm Infortar, the major shareholder of the shipping company Tallink. Later Trilini also acquired 50.9% of shares qoned previously by Gazprom.
In 1998, all regional subsidiaries of Eesti Gaas were merged into the parent company. In December 2004, the gas infrastructure construction activities were transferred to the separate subsidiary, AS EG Ehitus. In 2005, the gas grid services (transmission and distribution) were transferred to the newly established subsidiary company EG Võrguteenus. In 2013 the distribution network was separated from EG Võrguteenus into a newly established subsidiary of Eesti Gaas, AS Gaasivõrgud. In 2014, to implement the EU 3rd energy package EG Võrguteenus was separated from Eesti Gaas.
In 2013, Eesti Gaas started to sell electricity.