- Exclusive partnership to trade a range of gas storage products within the Tasmanian Gas Pipeline
- First formal capacity and loan gas contracts to be listed on an exchange in Australia
SYDNEY – 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.
About CBL Markets
CBL Markets is a global exchange providing market participants with access to the world’s energy and environmental commodity markets. With a vision of bringing efficiency, transparency and liquidity to commodities markets, our exchange connects buyers and sellers around the world to facilitate the secure and seamless trading of energy and environmental commodities, including carbon, renewable energy, water, and natural gas.
For more information please visit cblmarkets.comor follow us on Twitter(@cblmarkets).
About Tasmanian Gas Pipeline Pty Ltd
The Tasmanian Gas Pipeline (TGP) is the only pipeline supplying natural gas to Tasmania as well as providing an alternative connection into the Victorian Declared Wholesale Gas Market (DWGM). It transports natural gas from Longford in Victoria, under Bass Strait, to Bell Bay in Tasmania and to the DWGM through the TasHub facility near Longford, Victoria. The TGP brings jobs and economic growth to the communities it passes through and provides the opportunity for more than 500,000 Tasmanians to take advantage of the many benefits of natural gas.
For more information please visit tasmaniangaspipeline.com.au.