More than 46.7 TWh have been negotiated on the MIBGAS platform, the operator of the Iberian Organized Gas Market, so far this year. 40.1 TWh correspond to spot and prompt (intraday, daily, weekend and month) products traded at MIBGAS. This figure doubles and exceeds the volume registered during the first ten months of 2018 in all products traded in MIBGAS and MIBGAS Derivatives, which was 20.7 TWh. This represents an increase of 126%.
Likewise, October maintains the high negotiation trend registered in the Iberian Gas Market platform, with a negotiated volume of 4.4 TWh, distributed among the 4 TWh of products traded in MIBGAS (Month Ahead product included) and the remainder distributed between natural gas futures and the OTC registration service. This volume of negotiation has meant the coverage of 13.7% of the demand for natural gas in Spain.
Increase in day ahead negotiation
The Day Ahead was the most traded product in October with 1.6 TWh compared to 528 GWh in the same month of the previous year.
So far this year, a total volume of 46.7 TWh has been registered on the MIBGAS trading platform, while the total volume traded last year was 26.3 TWh.
The Iberian Gas Market currently has a total of 101 participants. MIBGAS trades from spot products until the Month Ahead product (included), while in MIBGAS Derivatives - a subsidiary of MIBGAS - natural gas futures and LNG products are negociated. MIBGAS Derivatives also offers OTC registration service.