Insight

TTF - the clear leader in European gas hub development

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19 February 2020

TTF - the clear leader in European gas hub development

Report summary

Traded volumes across European hubs continued to increase significantly in 2019. Surplus LNG in the global market led to significant additional LNG imports into Northwest Europe. Total daily trade across the growing number of hubs doubled between 2013 and 2019. This increase reflects the trend of shifting from long-term, oil-indexed contracts, to shorter term, hub-based contracts, supplemented with growing volumes of spot trades to balance positions. The UK’s NBP was the first significant pricing hub in Europe and up to 2014 was the key pricing point. Since then, a number of other hubs have emerged across the continent, with the Dutch TTF being the most prominent. TTF is now the clear leader in European gas hub trading volumes and liquidity.

Table of contents

  • Introduction
  • TTF domination continues to grow
  • Impact of additional LNG into NW Europe
  • Future hub trading – the outlook for developing hubs
  • Developing NBP/TTF price differentials
  • Impact of TTF pricing on JKM

Tables and charts

This report includes 9 images and tables including:

  • European total traded volumes
  • Annual average churn rates
  • NW Europe LNG imports 2018-2019
  • NBP & TTF monthly traded volumes 2018-2019
  • NBP & TTF monthly churn rates 2018-2019
  • Traded volumes excluding NBP & TTF
  • Churn rates excluding NBP & TTF
  • NBP -TTF annual differential
  • JKM-TTF annual differential

What's included

This report contains:

  • Document

    European Gas Trading Insight.xlsx

    XLSX 186.79 KB

  • Document

    TTF - the clear leader in European gas hub development

    ZIP 929.96 KB

  • Document

    TTF - the clear leader in European gas hub development

    ZIP 929.44 KB

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