ENTSOG GRIP SNC 2014-2023

In general, throughout continental Europe, the volume of gas being traded at the hubs (both in the “over-the-counter” markets and on exchanges) has been increasing over the past years. The above developments are, among other things, the outcome of market and reg- ulatory improvements, such as the early implementation of Capacity Allocation Mechanism Network Code (CAM NC 1) ) and the entry into force of Congestion Management Procedures (CMP 2) ). The following figure shows that from the perspective of traded volumes, the Euro­ pean gas markets have been making notable changes in the last six to seven years: the traded volumes has gone from 5 bcm in 2000 to 550bcm in the year 2011 3) :

500 bcm

400

300

200

100

0

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

CEGH PSV

TTF huberator

GRTgaz GASPOOL

TIGF NCG

Figure 3.12: Traded volume of the European gas hubs and TSOs from 1999 to 2011 (Source: Oxford Institute for Energy Studies)

1) COMMISSION REGULATION (EU) No 984/2013 of 14 October 2013 2) COMMISSION DECISION of 24 August 2012 3) Source: “Continental European gas hubs: are they fit for purpose?”, Oxford Institute for Energy Studies, Patrick Heather, NG63, June 2013

South-North Corridor GRIP 2014–2023 |

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