Meaning of Terms
- National Balancing Point (UK), commonly referred to as the NBP, is a virtual trading location for the sale and purchase of UK natural gas. It is the pricing and delivery point for the ICE (IntercontinentalExchange) natural gas futures contract. It is the most liquid gas trading point in Europe and is a major influence on the price that domestic consumers pay for their gas at home. Gas at the NBP is traded in pence per therm. It is similar in concept to the Henry Hub in the United States - but differs in that it is not an actual physical location.
Trades at the NBP are made via the OCM trading system, an anonymous trading service managed by APX Group to which offers or requests for gas at a nominated price can be posted.
In July 2007, EEX successfully launched exchange trading in Natural Gas in Germany in the BEB and E.ON Gastransport (EGT) market areas, which have been expanded into the Gaspool and NetConnect Germany (NCG) market areas by now in the course of co-operations. - New York Mercantile Exchange is also known as NYMEX. NYMEX is the largest physical commodity exchange in the world that offers Engergy,Metal,Softs futures and options trading services. NYMEX is currently headquarted in New York and employs more than 500 people.
It consists of 2 trading floors: NYMEX which trades hydrocarbons, electricity, platinum, palladium, and COMEX (gold, silver, copper, aluminum. - Nord Pool Gas as gas exchange organizes physical trade of natural gas. The products offered are day contracts and a following-month contract. Nord Pool Gas AS is owned by Energinet.dk and Nord Pool Spot with a share of 50 % each.
Nord Pool Gas provides a market place to producers, distributors, industrial companies, energy companies, trading representatives and large consumers on which they can buy or sell natural gas on a short term basis.
Nord Pool Gas aims at creating a reference price that can be used for financial products such as; futures, forwards and options contracts. The reference price of Nord Pool Gas can also be used as the reference price for the Nordic OTC/bilateral wholesale market as well as a reference for prices given by distributors to the end consumers as well.
One main element of the transportation system for the development of the market is the PEG (Gas Exchange Point), a virtual point which enables two network users (called «shippers») to exchange titles of gas. The contracts offered by Powernext Gas are contracts with delivery on the PEGs of high calorific natural gas with the standard properties of the gas transport network.
GRTgaz, subsidiary of GDF-Suez, operates the PEG Nord and PEG Sud. TIGF, subsidiary of Total in the south-western part of France, operates the PEG TIGF
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