Soaring Europe Hub Liquidity: Cause for Celebration, Concern

摘要

Most of Europe's natural gas hubs saw double-digit growth in total traded volumes last year, a dynamic that contrasts with a relatively stagnant US market (WGI Jan.26,p10). The UK National Balancing Point (NBP) easily remained Europe's heaviest-traded gas hub, up 18% at almost 1.28 trillion cubic meters (125 billion cubic feet per day) ?a growth rate twice that in 2009, for a steady traded-to-physical "churn" ratio of about 12.