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NZX Launches Natural Gas Market

Date 02/09/2013

NZX is pleased to announce that having received the necessary operating approvals, its spot gas market is now open for trading.

The launch of NZX’s gas market has been dependent on successful completion of an Interconnection Agreement with Maui Development Limited, the owner and operator of the Maui Pipeline.

The market features monthly, weekly, daily and intraday products focused on a ‘virtual welded point’ on the Maui pipeline. The chosen architecture is intended to concentrate liquidity and is compatible with existing shipping arrangements.

The final rules for the new market are now available, and participants may now register for the market, and commence trading.

NZX Head of Energy Erich Livengood commented: “We are delighted to receive the necessary operating approvals for the new gas market, and look forward to working closely with industry participants in coming months to grow and develop this important market.

“Potential participants will now be reviewing the final rules and market requirements, and we will be working with them to register and begin trading from today.”

The market is hosted at gas.nzx.com

NZX initially announced it would operate a gas market on 5 March 2013.

NZX continues to look for opportunities to use its existing market operations infrastructure to enable a broad range of industries to better manage their risk.