Inčukalns Gas Storage Fully Booked – 5 Year Capacity

Riga, February 10, 2026 — Energy traders have snapped up all available long-term capacity at the Inčukalns Underground Gas Storage facility in the first auction of 2026, signaling a strong regional push to bolster gas reserves. It’s a bit like watching everyone scramble for the last life raft – except this one’s filled with natural gas and crucial for keeping the lights on.

Securing the Future: Baltic Gas Storage Fully Booked

Demand for gas storage in the Baltic region is soaring, driven by geopolitical uncertainty and a desire for energy independence.

• The Inčukalns facility’s 2026 capacity was fully booked in the first auction.
• The final price reached 2.12 euros/megawatt-hour, exceeding the initial price.
• A one-year product auction is scheduled for February 26, with a starting price of 2.13 euros/megawatt-hour.
• Inčukalns is the only large-scale underground gas storage in the Baltic states.

What does this mean for consumers? Securing adequate gas storage, like the Inčukalns facility, helps stabilize energy prices and ensures a reliable supply, especially during peak demand in colder months.

The auction for the Inčukalns Underground Gas Storage, which concluded on February 10, saw fierce competition, driving the final price to 2.12 euros per megawatt-hour. This price surpassed the initial starting point, and the sale effectively closes the book on five-year bundled capacity offerings for 2026, according to operator Conexus Baltic Grid.

The high level of interest in the auction underscores a growing regional commitment to securing gas reserves for the coming years, a move likely influenced by recent geopolitical events and a desire for greater energy security.

The next opportunity to secure storage capacity will be a one-year product auction scheduled for February 26, starting at 2.13 euros/megawatt-hour. The precise volume of storage available for this auction will be revealed on February 19, alongside the detailed auction rules. Should any capacity remain after the one-year tender, Conexus will proceed with interruptible product auctions, offering a lower entry price of 1.11 euros/megawatt-hour.

The Inčukalns Underground Gas Storage is a vital piece of the energy infrastructure puzzle for the Baltic region. Located approximately 700 meters below ground in a natural sandstone layer, it’s currently the only functional large-scale underground gas storage facility serving Latvia, Estonia, Lithuania, and Finland.

“The completed storage capacity auction proves that system users take future capacity reservation responsibly,” noted Conexus Technical Director Rinalds Dimiņš. “It is important to recognise the role of the storage facility in ensuring energy security and continuity, which has been particularly evident during this year’s cold winter. Reserved storage capacity and the natural gas later injected into the storage directly contribute to the stability of gas deliveries. It should be emphasised that auctions enable us as the service provider to ensure transparent use of the storage facility for market participants, while for system users — especially when opting for the five‑year bundled capacity product — the auction provides an opportunity to forecast costs and plan operations efficiently in the medium term.”

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