7/05/2026

Since May, trading on the virtual balancing tank (TVB) for liquefied natural gas (LNG) from all Spanish regasification plants has included a “market dynamiser”. The role of the dynamiser is to make significant volumes of LNG available on the TVB in the MIBGAS Derivatives spot market. Consequently, this encourages the participation of agents and promotes greater liquidity in the LNG market.

MIBGAS and DXT Commodities have signed an agreement for this agent to submit attractive LNG sale bids on the TVB in intraday and next day (D+1) products at any time during trading, both in the opening auction and on the continuous market.

The difference between the “dynamiser” and the already-familiar market maker - which exists in both PVB and TVB - is that the market maker makes simultaneous sell and buy bids, with a price differential between the two, whereas the “dynamiser” only makes sell bids, increasing the volume of bids available in the bid book.

In this way, a market maker provides price signals and liquidity with minimal volumes on screen, while the market dynamiser provides larger volumes available to agents, both doing so during most of the session.

All MIBGAS Derivatives agents can trade TVB spot products that are settled through the market operator; therefore, virtually no additional requirements are needed beyond those existing in MIBGAS. All this information can be found in the MIBGAS and MIBGAS Derivatives Access Guide (point 5). Acquisition of agent status in MIBGAS Derivatives).

About MIBGAS:

MIBGAS is the operator of the Iberian organised gas market, responsible for its operational functions and the financial administration of its services in accordance with the principles of efficiency, transparency, objectivity and independence. With more than 300 agents, it is also the guarantee manager for the Spanish gas system.

MIBGAS and MIBGAS Derivatives trade natural gas and liquefied natural gas products (non-financial and with physical delivery) ranging from intraday (with same-day delivery) to Y+2. In addition, it also offers the service of registering OTC transactions and auctions on request.

Committed to sustainability and decarbonisation, MIBGAS has been publishing the first Iberian index of renewable hydrogen prices, called IBHYX, since the end of 2024.

For more information, please see www.mibgas.es and www.greenenergy.mibgas.es.

About DXT Commodities:

DXT Commodities is an international energy trading company committed to the global energy transition, both in the markets in which it operates and in the decisions made by its people, as a company and as a group. We have a great team and advanced AI-powered technologies to optimise access to energy markets worldwide. We actively participate in carbon capture through the sustainable maintenance of our own land.