ICIS benchmark gas price assessments and indices

Benchmark your position in European natural gas with ICIS indices and assessments.  Heren indices and price assessments from ICIS have been trusted by industry players for over 20 years, giving you the insights you need to make well-timed decisions in key gas markets.

What are the Heren indices and price assessments?

Heren proprietary indices and assessments are the industry standard for European gas. Independently assessed and verified, directly from the market, these prices provide a reliable benchmark for the main gas hubs.

The British NBP and Dutch TTF natural gas prices, produced by ICIS, are referenced throughout the world and are the gas industry’s main reference for the European continent as a whole. Both are published in €/MWh and $/MMBtu, with the British prices also available in p/th.

The Heren indices and assessments have evolved to cover both emerging and mature markets. Assessments are now available for the British NBP, Dutch TTF, Belgian Zeebrugge, German NCG and GASPOOL, French PEG Nord and TRS, Italian PSV, Austrian VTP and Spanish PVB, as well as the Czech, Slovak and Turkish markets.

How do they support business decisions?

Our daily indices and assessments are designed to increase pricing transparency, enabling you to make accurate, timely decisions when buying and selling European natural gas.

Whether you’re trading in the over-the-counter (OTC) market or looking to hedge your long-term position, ICIS indices and price assessments provide the data you need to act confidently in Europe’s gas markets.

Why is it important to use Heren indices and assessments?

ICIS indices and price assessments have been the industry standard for over 20 years. As the most widely traded and referenced in European gas, aligning yourself to these prices is paramount in order to seize opportunities and mitigate risk.

Subscribing to ICIS market intelligence data will allow you to benchmark your position in key gas hubs and make accurate comparisons between markets, based on robust methodology unrivalled by other providers.

How do we assess the natural gas markets?

The Heren Index is based on a volume-weighted average of qualifying trades, collated over the course of a day, week or month. Data is gathered from a broad cross-section of the market, which includes traders, producers, end-users and brokers.

Heren Assessments are based on the highest bids and lowest offers at the close of play, factoring in supply and demand fundamentals such as production maintenances, tender issues, weather data and shipping costs.

Both methodologies are independently verified by market experts, in line with ICIS’ commitment to IOSCO.

The prices are open to market feedback, undergo annual external audit and are subject to public consultation at least every two years.

• Find out more about ICIS editorial standards
• Read more about ICIS consultation and compliance processes
• Understand more about the ICIS price assessment methodology

How do you assess natural gas prices?

ICIS provides extensive coverage of the global natural gas markets, bringing you independent pricing information and in-depth analysis, along with commentary and news. Information, such as price assessments and indices, can be easily accessed on the ICIS Dashboard.

Find out more

Infographic: Evolution of ICIS’s proprietary Heren Assessments

Seasonal trade hits TTF, NBP gas market liquidity as summer begins

Low liquidity on the curve dragged the total volume traded at the British NBP and Dutch TTF gas markets down year on year in the first month of summer, according to broker and exchange trade data collated by ICIS.....

Benchmark your natural gas prices with ICIS price assessments and indices

European Spot Gas Markets

The European Spot Gas Markets report is a daily publication, delivering the most up-to-the-minute spot price assessments for Europe’s natural gas markets.

We publish independent price assessments and Heren indices for the British NBP, Dutch TTF, German NCG and GASPOOL, Belgian Zeebrugge and ZTP, French PEG Nord and TRS, Italian PSV, Austrian VTP, Czech VTP, Spanish PVB, Slovak VTP and Turkey.

European Gas Markets

The fortnightly European Gas Markets Report provides you with a round-up of all of the key developments, prices and industry news in the European gas markets. It is a must-read for anyone looking for a comprehensive insight into the most relevant gas market news with a strong focus on supplier countries and routes.

European Gas Hub Report

The ICIS European Gas Hub Report provides readers with a comprehensive quarterly analysis of liquidity and market developments, as well as an outlook for all liquid and developing trading hubs in Europe. The detailed report now includes not only the major hubs of Northwest Europe, but even more markets that are growing and becoming more liquid across Central Europe and the Mediterranean.

During Gas Year 2015, the Dutch TTF overtook the British NBP to become the largest European gas market.

A total of 15,416TWh of gas was traded at the TTF across all market venues, while at the NBP some 8,655TWh of gas trade occurred.

Across Europe, most gas trade is conducted over-the-counter (OTC), the section of the market priced by ICIS.

Almost all short-term NBP trade is based on the OTC market, which the Heren indices and assessments have been pricing since the hub was created 20 years ago.

Free energy resources

Easy access to a host of downloadable ICIS energy resources, including:-

• Latest energy information: Market outlooks, insights, infographics and white papers.
• Listen:The latest ICIS energy podcasts
• Watch:The latest ICIS energy videos

ICIS Spanish Gas and LNG Forum –
A New Dawn?

4 May / Westin Palace, Madrid

Join the market experts from ICIS for this half-day seminar as they provide an in-depth overview of the latest developments in the Spanish gas and LNG markets.

Our experts will cover the most important factors affecting the Spanish market and give an outlook for trade flows and key trading hubs across Europe.

• Seats are complimentary but limited. Please register now »