GTS to Buy and Sell Balancing Gas on APX Gas NL, The Netherlands

Gasunie Transport Services (GTS) and APX-ENDEX have signed a Letter of Intent to prepare a binding agreement under which GTS will sell and or buy its balancing natural gas on the APX Gas NL Within-Day Market and/or Day-Ahead Market, instead of the GTS operated balancing platform, the Bid Price Ladder.

This intention is a direct result of the European Network Code for Gas Balancing, which is expected to enter into force in 2013. By trading on the APX Gas NL Within-Day Market and/or Day-Ahead Market on an equal footing with grid users, GTS aligns the Dutch balancing regime with the new European balancing rules. The implementation of the shift from the Bid Price Ladder to APX Gas NL is planned to be completed by 1 April 2014.

Annie Krist, managing director of GTS: ”With this next step after the introduction of the new balancing regime in 2011, GTS contributes directly to the further development of the liquidity of the Dutch gas market“.

Bert den Ouden, CEO of APX-ENDEX: “The decision of GTS to balance the transmission system by trading on the TTF market will further increase the liquidity of the TTF spot market. We are delighted to be given the opportunity to assist GTS with the implementation of this positive change”.

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LNG World News Staff, November 22, 2012; Image: GTS