European exchange-traded gas volume rose to a record in November on the back of a steep increase in NBP and TTF activity, with total gas traded volume rising above 4,000 TWh for the first time in eight months, data compiled by Platts showed.
Total exchange gas traded volume rose 76.4% year on year and 31.1% month on month in November to 1,529 TWh, beating the previous record high of 1,402 TWh from February.
The increase was driven by a steep increase in exchange traded volume on both the UK NBP hub and the Dutch TTF hub at 906 TWh and 568 TWh, respectively, monthly climbs of 26.4% and 43.4%.
As a result, traded volumes on ICE for the NBP and TTF combined reached record highs last month of 1,392 TWh, with traded volumes for the TTF on PEGAS in November also a record at 82 TWh.
Over-the-counter volume on the NBP hub posted a 2.2% fall month on month to 833 TWh, allowing exchange traded volume to overtake OTC traded volume for the first time since February.
Total European traded volume in November for OTC and exchange combined rose 10% to 4,054 TWh, still lagging the high of 4,633 TWh from March due to falls in OTC traded volume since the first quarter of the year.
Total traded volume for the first 11 months of 2015 stood at 38,923 TWh -- split between OTC at 26,703 TWh and exchange at 12,220 TWh -- in comparison with the same period the previous year of 35,166 TWh, with an OTC/exchange split of 25,885/9,281 TWh.
TTF traded volume for January-November stood at 16,370 TWh, already above the full-year 2014 total of 13,928 TWh, with NBP traded volume for the first 11 months at 17,307 TWh compared with 18,600 TWh in the whole of 2014, meaning a small annual increase on NBP could be expected.
