Market highlight: Basis liquidity capped by Interconnector capacity

Trade on the Belgian Zeebrugge - British NBP Day-ahead basis will drop when the premium that the Belgian hub holds to the British market rises above 2.0p/th, as flows down the bi-directional Interconnector pipeline hit nameplate capacity, according to ICIS data.

During September, a steep fall in the British NBP Day-ahead contract caused the contract to decouple from mainland European prices, including the Belgian Zeebrugge Day-ahead.

ICIS analysis demonstrates that although the NBP Day-ahead was trading at a significant discount to its Zeebrugge counterpart, there was not, as may have been expected, a surge in interest from shippers taking advantage of the lower priced contract. This is because British export capacity had reached its limit.

Complete your details to access the market highlight now

All fields are required

Hello ! (Not you?)


We want to keep you up-to-date with what’s happening at ICIS* and tell you about our latest products and other services. We may email you about information we think you’ll be interested in, including selected articles and reminders about forthcoming events. If you do not wish to receive such information please tick the box to opt out of these emails

*ICIS is a trade name of Reed Business Information Limited. By registering your details, you understand that your personal data will be handled according to our Privacy Policy.