CARBON | COAL | GAS | TRADING

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OTC gas trading volumes jump 28% year on year in Jan – Leba

(Montel) Traded gas volumes in EU brokered markets rose by almost 30% year on year in January, with a sharp rise on the benchmark Dutch TTF hub helping to drive the upturn, data from the London Energy Brokers’ Association (Leba) showed on Monday.

Total gas volumes for last month were 2,124 TWh, compared with 1,653 TWh for January last year.

TTF volumes were up 29% year on year to 1,507 TWh, while volumes traded on Germany’s THE rose by 30% to 241 TWh.

UK NBP volumes, separate to the EU category, were 33% higher than January 2023 at 319 TWh.

Meanwhile, traded volumes on continental brokered power markets surged by 52% on the year to 446 TWh.

German power surge
German power volumes climbed by almost 60% to 288 TWh, while there was a 71% increase in French trade to 56 TWh. Elsewhere, Nordic power volumes more than doubled year on year to 21 TWh last month.

UK power, also not included in the EU figures, rose by 18% to 64 TWh.

In the coal market, brokered trade totalled 28m tonnes last month, down 1.5% on the year amid a downturn in Australian volumes.

API 2 (Rotterdam) volumes were 6% higher at 23m tonnes, while Newcastle (Australia) trade fell by 31% to 4.7m tonnes.

Richards Bay (South Africa) volumes almost doubled, albeit from a low base, to 0.9m tonnes.

In carbon, emissions trade jumped 5% on the year in January to 250m tonnes – comprising predominantly EUAs – the data showed.

UK emissions trading scheme volumes rose by 40% to 14m tonnes.