EEX exchange sees gas trading as growth driver

The European Energy Exchange (EEX) plans for further growth in its gas trading contracts in 2012 after expansion in 2011, its CEO Peter Reitz said.

“We have not yet realised all opportunities in gas. The measures we have undertaken will serve to attract yet more liquidity to the EEX,” he said, but he did not give targets or precise figures.

Figures for the 2011 trading results of the bourse, which also trades power, carbon and coal, are expected around mid-January. However, a calculation of monthly gas trading results issued by the EEX for 2011 arrived at 58.6TWh which would be a 25% advance over 46.9TWh recorded in 2010, according to Reuters.

The higher volumes have been achieved through the concentration of Germany’s gas sector in two central zones, extended trading hours, added market makers that set reliable prices and 30 new trading members.

However, Reitz said there were increasing calls for European gas trading to be delinked from crude oil under old-style supply deals between exporters abroad and domestic distributors, where the EGIX index was a useful reference tool. “The gas price should be based on supply and demand of gas, not on oil prices,” he said.