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Maturity level of the major European market places for natural gas trade

This map represents the maturity level of the European major marketplaces for natural gas trade.

Maturity level of the major European mar

Source: The Oxford Institute for Energy Studies (July 2022)

Analysis

The long-term objective to implement a unique European market for natural gas needs a deeper harmonization of existing marketplaces. The maturity level of these marketplaces can be evaluated considering five drivers: number of participants, products diversification, traded volumes, data exchanges and Churn ratio.

 

Product diversification (day-ahead contracts, within-day contracts, OTC…) are significantly different from one place compared to another. However, the gap between traded volumes is the main reason to explain why English and Dutch marketplaces are currently considered as the only mature hubs in Europe. Two new hubs became operational in 2020: the Bulgarian Virtual Hub (VTT) and the Romanian Virtual Trade Point (PVT).