Abstract
Overview
Introduction
Datamonitor predicts that while the UK's NBP will remain the largest spot gas
market in the EU, the Dutch TTF market will overtake Zeebrugge as the most
liquid wholesale gas trading hub in continental Europe. As Europe's energy
sector fully opens to retail competition in July 2007, smaller wholesale
markets will also attract increased trading interest.
Scope
An understanding of the factors that will drive wholesale trade in the UK,
Europe's largest gas market, to become increasingly short-term in nature. An
assessment of how trading activity in the Dutch wholesale gas market will
evolve in the coming years and the potential scale it could reach. An overview
of the future wholesale trading landscape in Europe and the influence that LNG
cargoes and Russian pipeline gas will have in shaping this.
Report Highlights
The UK will increasingly become a spot-orientated gas market as it adapts to
rising import dependence. North Sea producers (natural sellers at the NBP) are
increasingly reluctant to sell gas forward, lacking confidence in their
ability to make physical delivery in the medium and longer-term.
Holland will become the home of European forward gas trading. TTF trading
activity is already notably more varied than at Zeebrugge. Shippers in the
Dutch wholesale market exhibit a much greater propensity to sell gas forward,
reflecting the Netherlands's net exporter status and close proximity to key
Norwegian import lines.
LNG will drive wholesale liquidity growth across the Mediterranean. As
Iberian, particularly Portuguese, gas demand grows, the inter-relationship
between the Spanish and Portuguese wholesale markets will flourish. Liquidity
in this region will also be impacted by LNG cargoes arriving at France's
Mediterranean terminals.
Reasons to Purchase
- Understand the future direction of wholesale activity at the UK's NBP gas
market and the factors that will drive trader decisions.
- Assess the likely evolution of liquidity on continental Europe and where
the balance of power will lie in the coming years.
- Gain insight into the future landscape of wholesale gas trading across
Europe and the key factors that will shape it.
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