Central European Gas Hub
| Central European Gas Hub (CEGH)
|
|
|---|---|
 |
|
| legal form | Corporation |
| founding | 2005 |
| Seat |
Vienna , Austria
|
| management | Gottfried Steiner CEO
Bernhard Stamm CFO |
| Branch | Exchanges, energy |
| Website | www.cegh.at |
The Central European Gas Hub AG ( CEGH ), based in Vienna, is the operator of a natural gas trading platform in Austria .
Gas trading platform
The gas trading platform operated by CEGH is set up as a virtual trading point and serves European gas trading companies to buy and sell natural gas. All transfers of ownership of natural gas in the so-called "East Market Area" take place here. The volume of natural gas traded annually on this trading platform corresponds to about five times the amount of total annual gas consumption in Austria.
OTC market
On the OTC market ("Over-The-Counter"), gas trading is bilaterally agreed between seller and buyer and the traded quantities are nominated for settlement by the contractual partners in the CEGH OTC Trading System (CEGH Multi Trading System). CEGH monitors the transactions, ensures the actual physical availability of the gas quantities in cooperation with the network operators and issues the trading protocols for the contractual partners.
Gas Exchange of the Vienna Stock Exchange
In 2009, trading began on the spot market (also known as the “cash market”) of the CEGH Gas Exchange on the Vienna Stock Exchange . Since summer 2012, the Trayport Global Vision ETS (Exchange Trading System) has been used as the trading system for gas trading. The clearing and settlement is by European Commodity Clearing AG acquired (ECC). The physical processing (delivery) takes place via nomination and volume comparison mechanisms of the CEGH.
In December 2013. CEGH led together with PXE (Power Exchange Central Europe) the Czech CEGH gas futures market ( futures on). Gas futures in the Czech Republic can be traded here with a delivery point at the Czech virtual trading point. In May 2015, the Gas Exchange Spot Market in the Czech Republic was also put into operation.
history
The CEGH was founded as a 100% subsidiary of OMV Gas & Power GmbH as part of the liberalization of the gas market . With the implementation of the first Gas Release Program (GRP), he started operating in over-the-counter trading in 2005.
In 2009 the CEGH Gas Exchange was opened: in December 2009 the Spot Market of the CEGH Gas Exchange of the Vienna Stock Exchange started, in December 2010 the Futures Market. After the start of the cooperation with the Vienna Stock Exchange to jointly operate the CEGH Gas Exchange, Wiener Börse AG acquired 20% of the CEGH in June 2010. In September 2012 the Slovak gas network operator eustream as took a 15% stake in the CEGH. The current ownership structure is therefore: OMV Gas & Power (65%), Vienna Stock Exchange (20%) and eustream (15%).
With the introduction of the new gas market model in Austria at the beginning of 2013, the previously flange-based trading was switched to trading at the virtual trading point (VTP). CEGH was nominated as operator of the VTP and has been performing this role since January 1, 2013. Since then, all transfers of ownership of natural gas in Austria have been concentrated at one central point and processed around the clock.
Web links
Individual evidence
- ↑ Membership of the CEGH . Retrieved June 25, 2014.
- ↑ CEGH OTC market . Retrieved June 25, 2014.
- ^ Gas Exchange . Retrieved June 25, 2014.
- ^ Owner of the CEGH . Retrieved June 25, 2014.
- ↑ Eustream joins Central European Gas Hub . Central European Gas Hub AG. Archived from the original on May 17, 2014. Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved September 14, 2012.
