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The Danish exchange Gaspoint Nordic is to join the PEGAS platform in the course of 2016, thus integrating the Danish and Continental European gas markets. By expanding to Scandinavia, the PEGAS platform takes another step in establishing a one-stop-shop for natural gas trading in Europe.
The Danish electricity and gas transmission system operator Energinet.dk signed an agreement to sell its 50% shareholding in Gaspoint Nordic, making the company a full member of EEX Group. The shares will be held by the French company Powernext, the affiliate which operates the PEGAS platform within EEX Group.
Gaspoint Nordic offers short-term trading of Within-Day, Day-Ahead, Weekend and Month-Ahead natural gas contracts, all referring to the Danish trading hub ETF (Exchange Transfer Facility). After the transaction, these products will be listed under the Powernext rulebook and accessible via the Powernext system. They will continue to be cleared through the European Commodity Clearing AG (ECC).
Jacob Pedersen, CEO of Gaspoint Nordic, comments: “We are very pleased to join the PEGAS platform. It is a major step towards further integrating the Nordic gas market into continental Europe and very much in line with the needs of our members and stakeholders in general. This will allow for an accelerated market development and an extended product offering.”
Torben Brabo, Director, Gas Market and Operation of Energinet.dk, adds: “We thank Gaspoint Nordic for actively developing the Danish gas market so far and look forward to its cooperation with PEGAS which will significantly enlarge the network of market participants and increase trading opportunities for the Danish gas market."
Dr Egbert Laege, CEO of Powernext, explains: “PEGAS has made another step to expand the geographical coverage within Europe. The synergies of the cooperation between Gaspoint Nordic and PEGAS will help to further develop the Danish market for the benefit of their customers.”
PEGAS offers spot and futures natural gas contracts in the Belgian, Dutch, French, German, Italian and UK market areas. In addition, Powernext recently announced the signature of an agreement with Austria’s Central European Gas Hub AG (CEGH) to migrate their products to the PEGAS platform and to further develop the Austrian and Central & Eastern European gas markets.
