Oil, weather and Ukraine boost European gas volumes

2014 saw rising activity in Europe's exchange-traded and OTC gas markets

Gas pipeline
European natural gas: volumes cranking up

Trading activity in European natural gas soared last year as the Ukraine crisis, a steep decline in crude oil prices and a continuing move away from oil indexation all contributed to record volumes, say analysts and market participants.

"The volumes are picking up in general," says Erik Frissen, a natural gas trader at Eni Trading and Shipping, the trading arm of Italian oil and gas company Eni. "It is related to the fact that we have more and more swaps, there [are] more and more volumes, and j