PEGAS: RECORD TRADING
PEGAS announced record trading on its natural gas platform, saying that the total volume registered in August 2014 is almost three times the levels registered over the same period of the previous year.
'PEGAS, the natural gas platform jointly established by the European Energy Exchange (EEX) and Powernext, announced that a total volume of 47.2 TWh was traded in August 2014 compared with 16.8 TWh traded over the same period of the previous year,' reads a note published on Wednesday.
Both spot and derivatives markets registered a significant growth, with German markets taking the helm. Trading volumes in the German markets did indeed overcome French markets.
'The German spot markets (market areas GASPOOL and NCG) reached a record volume of 10.3 TWh (August 2013: 3.6 TWh), including 2.8 TWh traded in quality-specific gas products, which represents an all-time high as well. The French spot markets (market areas PEG Nord, PEG Sud, PEG TIGF) registered a total of 6.3 TWh (August 2013: 5.2 TWh).'
Dutch and Belgian markets are still lagging behind, but registered the fastest growth.
'The volume traded on the Dutch TTF spot market amounted to 6.0 TWh traded in August (August 2013: 1.5 TWh). The Belgian ZTP spot market recorded 30,693 MWh. The overall Spot Market volume included 1.5 TWh traded in spread products.'
Similar trends have been registered in the derivatives markets, which totalled 24.6 TWh, from 6.4 TWh in August 2013.
According to the notes, in August 2014, Conocophillips (UK) and PetroChina International were admitted as new members on the PEGAS markets, along with other three companies.
Earlier this year, PEGAS unveiled a 209% year-on-year growth.