Portuguese gas products launched on Iberian MIBGAS exchange for physical delivery

Highlights

Within a day, a day in advance, a weekend that is now available for trading

Monthly products and the rest of the month will be added later

Participants must be authorized as users by REN

London –
Natural gas trading for physical delivery to Portugal started on March 16 with short-term products that are now available to market participants, the Iberian exchange MIBGAS said in a statement on March 16.

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The short-term delivery products for physical delivery to Portugal will begin with contracts within one day, one day in advance and on the weekend. The contracts for the remaining months and months will be introduced later, MIBGAS said.

“The entry of MIBGAS in Portugal is an important step in the development of the Iberian natural gas market and contributes not only to increasing competition and business transparency, but also to increasing the number of participants and the liquidity of the gas market.” the exchange said.

Market participants must sign a contract to comply with Portuguese regulations and must be authorized by REN to use the Portuguese gas system.

The liquidity on the MIBGAS exchange totaled 12.213 TWh in the first two months of 2021, which corresponds to an annual increase of 84% and was already close to the 13.421 TWh that were recorded throughout 2017, according to data from MIBGAS showed.

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