Bulgaria Picks ETS for Gas Trading Hub

Bulgaria has recruited Europe’s leading provider of primary network and data platforms for wholesale energy markets to help establish its new gas trading hub, the country’s gas grid operator Bulgartransgaz reported on November 18.

Balkan Gas Hub, a subsidiary of Bulgartransgaz set up to operate the future hub, has signed an agreement to employ TMX Group unit Trayport’s exchange trading system (ETS). The platform is due to go live in early 2020.

Bulgaria is poised to become a crossroads for gas supplies in southeast Europe, underpinning its plan for a regional trading hub. A new gas link with Greece is due online next year, allowing Bulgaria to source supplies from Greece’s Revithoussa LNG terminal and later piped shipments from Azerbaijan. Bulgaria is also working with Russia on extending the TurkStream pipeline through its territory and on through Serbia and Hungary.

Bulgaria’s trading hub will initially introduce over-the-counter (OTC) and exchange contracts, including both short-term products and longer-term monthly, quarterly, seasonal, yearly and multi-year products.