ENTSOG GRIP SNC 2014-2023

40 €/MWh

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32

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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2012

2013

2014

Zeebrugge Trading Point H-Zone PEG Nord

TTF PEG Sud

VHP GASPOOL PSV

VHP NetConnectGermany CEGH

Gaspoint Nordic

NBP

Figure 3.13: Price evolution at the major European gas hubs (2012 – 2013) (Source: ENTSOG)

It is worth highlighting that the correlation increases when the markets are physical- ly connected through infrastructures. Examining the trend of the gas prices at the main European hubs in the light of this consideration, we may infer that: \\ investments are needed to reduce the price spread between PEG Sud and other hubs. The merger of French hubs in 2015 and 2018 and potential increases of interconnections between France and other neighboring countries would result in a deeper integration of the French hub with the other hubs in the Corridor; \\ as pointed out in the paper of “The Oxford Institute for Energy studies” the PSV correlation to the other hubs has been increasing thanks to the implementing of open access transportation measures (CAM Network Code early implemen- tation and CMP measures); \\ the reverse flow projects in the South-North Corridor can play a substantial role to support further alignment between European gas prices through increased market integration between the main European hubs.

South-North Corridor GRIP 2014–2023 |

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