28 June 2018
CBL Markets (CBL), leading spot exchange operator for energy and environmental commodity markets, and Tasmanian Gas Pipeline Pty Ltd (TGP), today announced an exclusive partnership to provide a trading platform for a range of gas storage products on the TGP.
Under the partnership, CBL Markets will provide a trading platform for primary capacity and in-pipe loan gas products for the TGP via a daily storage capacity and loan gas auction. These contracts will be the first capacity and loan gas contracts to be listed on an exchange in Australia.
A reliable, open electronic market will bring price discovery and transparency to gas transmission and loan markets, promote a more competitive landscape for wholesale gas traders and ultimately create more efficient and cost-effective products for consumers. It will also provide flexibility for energy retailers and gas fired generators to access the market.
Ben Stuart, Managing Director Australia at CBL Markets said, “CBL Markets is excited to partner with TGP to bring innovation and efficiency to Australian Gas Markets. We believe our market leading exchange platform will support increased activity and liquidity in the market, setting a clear price signal for gas products in the pipeline, and driving more efficient use of TGP’s infrastructure”.
Darren Giri, Commercial Manager of the TGP, commented that “…these products would facilitate greater connectivity between transmission pipelines and markets and enable new players to participate in Australian gas markets.”
The initial contracts launching in July will be short-term, including day-ahead and week-ahead products. CBL Markets and TGP envisage that these may be the start of a range of products that will facilitate increased trading and transparency in wholesale gas and gas transportation markets across Eastern Australia.
Please click here to download the Media Release.
For further information please contact Becher Townshend on 0418 370 661