ICIS celebrates 20 years of bringing price transparency to European gas markets

20 March 2015

ICIS, a trusted provider of European natural gas benchmark prices and market intelligence, this week celebrates the 20th anniversary of the launch of its daily European Spot Gas Markets (ESGM) report and the Heren Index.

Since its launch in March 1995, ESGM has provided the energy industry with independent and trusted pricing information as well as in-depth analysis on price drivers, authoritative commentary on each day’s trading activity and daily news.

The price assessments and indices published in ESGM are some of the most widely traded and referenced price benchmarks across the European gas market, enabling participants to trade with confidence.

This started in 1994 when Patrick Heren launched price assessments of the British wholesale gas market, closely followed by the Heren Index, a daily volume weighted average of British physical gas trades. Trading activity on the British market steadily rose following the creation of the virtual NBP hub in 1996 and ESGM quickly established itself as an essential and reliable trading tool for market participants.

ICIS has been the first company to bring price transparency in every new liberalised gas market in Europe, initially at the Zeebrugge hub in Belgium in 1998 to the Dutch TTF, through to emerging gas markets in Turkey and Spain. 

Christopher Flook, Managing Director at ICIS said:

ICIS pioneered bringing price transparency to European gas markets. Since 1994, and as trade has spread globally, it has adopted the same principles to its coverage of new gas markets in Asia, the Americas and Australasia.” 

ESGM has evolved from publishing one price assessment and index in 1995 to the current 186 assessments and 64 trades-based indices across the British NBP, Dutch TTF, German NCG and GASPOOL, Belgian Zeebrugge, French PEG Nord, Sud and TIGF, Italian PSV, Austrian VTP, Czech VTP, Spanish AOC and Turkish UDN markets.


For media inquiries, contact:
Ben Wetherall
Head of Gas
T: +44 020 7911 1786

About ICIS

ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.

With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. Some 350 of ICIS’s staff are journalists engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.

ICIS is a division of Reed Business Information, part of RELX Group.

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