Dutch Gas Market 2011
We estimate that the total volume of gas changing hands in all TTF-related trading activity during 2010 was nearly 5,400 TWh (including exchange-traded spot and futures contracts, cleared OTC trades, and bilateral OTC trades). Volumes have increased almost 20-fold in the last five years and by 59% between 2009 and 2010.
This 106 page report covers the physical and commercial aspects of the Dutch natural gas market, and its role in the wider European gas market. Key market trends, including the growth of trading liquidity, are highlighted in 35 tables, 28 charts and 5 maps.
Chapter 1 – The Trading Market: this chapter reviews the development and state of trading liquidity in the Dutch gas market. It assesses the total volume of trading on exchanges and in the OTC broker and bilateral trading markets. The contracts and instruments traded are reviewed, along with the exchange platforms and OTC markets in which they are traded. The practicalities involved in physical gas trading are discussed – balancing, capacity, quality conversion and flexibility. The chapter concludes with a review of price formation in the Dutch market, and the development of both wholesale and end-user gas prices.
Chapter 2 – Energy Policy and Regulation:this chapter reviews Dutch energy policy and outlines relevant energy market legislation. The history of the Dutch gas industry, including the role of the state in the industry, is briefly described. The chapter also reviews the European gas directives and energy regulation, and the Dutch experience in the implementation of gas market liberalisation.
Chapter 3 - Gas Market Fundamentals: this chapter provides an overview of the fundamentals of Dutch gas supply and demand. The production of gas, policies and prospects for future gas production and upstream activity by major players are discussed. The chapter reviews the consumption of gas within the Netherlands, including analysis of new gas-fired power projects. It concludes with a review of import and export flows and sources of gas system flexibility.
Chapter 4 - Infrastructure: this chapter describes the gas system infrastructure in the Netherlands, including the pipeline network, the new Gate LNG terminal being built in Rotterdam, as well as existing and planned storage facilities.
Chapter 5 – Market Participants: this chapter provides profiles of the key players in the Dutch gas market, and includes a review of important mergers and acquisitions over the past few years.
Chapter 6 – Appendix: this chapter describes the different qualities and types of natural gas, and explains the units, unit conversion factors and rounding conventions used in this report.
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This 106 page report covers the physical and commercial aspects of the Dutch natural gas market, and its role in the wider European gas market. Key market trends, including the growth of trading liquidity, are highlighted in 35 tables, 28 charts and 5 maps.
Chapter 1 – The Trading Market: this chapter reviews the development and state of trading liquidity in the Dutch gas market. It assesses the total volume of trading on exchanges and in the OTC broker and bilateral trading markets. The contracts and instruments traded are reviewed, along with the exchange platforms and OTC markets in which they are traded. The practicalities involved in physical gas trading are discussed – balancing, capacity, quality conversion and flexibility. The chapter concludes with a review of price formation in the Dutch market, and the development of both wholesale and end-user gas prices.
Chapter 2 – Energy Policy and Regulation:this chapter reviews Dutch energy policy and outlines relevant energy market legislation. The history of the Dutch gas industry, including the role of the state in the industry, is briefly described. The chapter also reviews the European gas directives and energy regulation, and the Dutch experience in the implementation of gas market liberalisation.
Chapter 3 - Gas Market Fundamentals: this chapter provides an overview of the fundamentals of Dutch gas supply and demand. The production of gas, policies and prospects for future gas production and upstream activity by major players are discussed. The chapter reviews the consumption of gas within the Netherlands, including analysis of new gas-fired power projects. It concludes with a review of import and export flows and sources of gas system flexibility.
Chapter 4 - Infrastructure: this chapter describes the gas system infrastructure in the Netherlands, including the pipeline network, the new Gate LNG terminal being built in Rotterdam, as well as existing and planned storage facilities.
Chapter 5 – Market Participants: this chapter provides profiles of the key players in the Dutch gas market, and includes a review of important mergers and acquisitions over the past few years.
Chapter 6 – Appendix: this chapter describes the different qualities and types of natural gas, and explains the units, unit conversion factors and rounding conventions used in this report.
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