Moves to maturity

Gas market liberalisation in Europe has been a slow starter: over 80% of gas supplies remain locked up in long-term, oil-indexed contracts. But there is some good news: liquidity is starting to improve at several of Europe's gas trading hubs.

A hub is either a physical interconnection between different parts of a gas transmission network, or a virtual point that reflects the input and withdrawal of gas from a single transmission system, usually serving a particular national or sub-national ar