Changing of the guard

Changes to the European gas market may further attract financial players, and tighten the rules in case of physical supply disruptions. Meanwhile changes in the UK gas market may lead to clearing at the hub. By James Ockenden

Huberator, the company that controls the Zeebrugge hub, is changing its market rules to improve the way it handles disruptions in supply; and to offer clearing services through APX on Zeebrugge gas contracts.

Its plans are timely: in October, supply disruptions in the UK caused the price between the National Balancing Point (NPB) in the UK and the Zeebrugge hub price to diverge. The basis moved from a few pence per therm to 30p per therm; in two markets which had, until then, been well

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