ICIS launches daily pricing of Slovak wholesale natural gas market

02 July 2015

2 July 2015 – ICIS, an independent and trusted source of intelligence on Europe’s wholesale natural gas market, has launched the daily pricing of Slovakia in its benchmark report European Spot Gas Markets (ESGM).

Complementing the existing ESGM coverage of Europe’s most active traded gas markets, including Britain, the new Slovak price will further provide transparency to wholesale gas trade in the region.

Much of Russian gas supplied to Europe transits Ukraine and Slovakia, so the pricing of the nascent Slovak hub will provide energy traders, analysts and national authorities deep insight of wholesale gas prices on the edge of the EU.

“Since autumn 2014, Ukraine has been able to purchase gas from the EU’s traded hubs, having previously been dependent on Russian imports. This development has been a real game-changer for the EU gas markets as now gas flows west-to-east over the Slovak-Ukrainian border, as well as east-to-west,” said Tom Marzec-Manser, editor of ESGM at ICIS.

“Knowing the price of gas in Slovakia is therefore crucial for understanding the changing gas flow profiles. In essence, Slovakia is the key bridge between Ukraine and the markets of the EU,” Marzec-Manser added.

Ukraine has said it will stop importing gas from Russia from the start of this month, which may increase its reliance on imports from the EU.

Ukraine’s gas market is undergoing reform and is set to liberalise on 1 October 2015.


“Bringing transparency on developing markets has always been our mission, and ICIS is proud to pioneer benchmark pricing on emerging gas markets in Central and Eastern Europe,” said Ben Wetherall, Head of Gas at ICIS.

Wholesale Slovak gas for next-day delivery was assessed for the first time by ICIS on 1 July 2015, at a price of €21.65/MWh [euros per megawatt-hour]. This was a premium of €0.275/MWh to the active Austrian hub, to which Slovakia is interconnected.

The price of next-day delivery gas in Britain was 42.70p/therm [pence per therm] on 1 July 2015, equivalent to €20.542/MWh.


In addition to launching Slovak pricing on 1 July 2015, ESGM will collate trades data for the gas markets of Slovakia, Hungary and Poland, to its already comprehensive daily pricing, news and analysis.

ESGM is the benchmark price report for Europe’s wholesale gas markets. Starting with the British market in 1994, ICIS has brought price transparency to every new liberalised market in Europe, from the Zeebrugge hub in Belgium in 1998 and the Dutch TTF, through to emerging markets in Turkey and Spain. 

For media inquiries, contact:

Tom Marzec-Manser

+44 (0)207 911 1964

Ben Wetherall

Head of Gas, ICIS
+44 (0)207 911 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.

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