European OTC gas trading up by a third in Gas Year 2015

Author: Jake Horslen


Combined over-the-counter (OTC) trading across 11 of Europe’s major hubs rose by a third in Gas Year 2015 to a total of 28,948TWh, according to trade data collated by ICIS.

Surging traded volume at the TTF was the main driver behind the trend and the Dutch hub accounted for just over half of all OTC trade in Europe.

Most other European hubs are just a fraction of the size of the TTF, but many nevertheless posted impressive rates of growth themselves in the past 12 months.

The PSV in Italy is a notable example. OTC trading at the hub increased by 75% in Gas Year 2015 and is now closing the gap on GASPOOL in Germany, which has been the continent’s fourth biggest hub for many years.

The ZTP in Belgium posted the biggest proportional increase in Gas Year 2015, but remains by far the smallest established hub, with only the day-ahead contract recording regular trade.

Belgium’s primary market, the physical Zeebrugge Beach hub, was the only trading venue to lose ground in Gas Year 2015. The hub continues to suffer from its sterling denomination, with many euro-backed companies opting to trade at the increasingly liquid and euro-denominated TTF hub which is just next door.

A full overview of this year’s liquidity trends at Europe’s developed and developing markets will be available later this month in the full-year ICIS European Gas Hub Report .