The Organised Gas Market, managed by MIBGAS, began the trading of natural gas products with physical delivery in Portugal today, at the VTP (virtual trading point). The Transmission System Operator, REN-Gasodutos, as the Global Technical Manager of the National Gas System (SNG), and MIBGAS, the Operator of the Iberian Natural Gas Market, published, at the end of October 2020, a joint schedule of activities seeking the implementation of the organised gas market in Portugal, which are concluded today with the launch of the products with physical delivery at the VTP on MIBGAS’s platform. Trading starts today with intraday, daily, and weekend natural gas products.
MIBGAS’s entry in Portugal is an important step for the development of the Iberian natural gas market, contributing not only to the increase in the level of competition and trading transparency, but also to the increase in the number of participants and to the liquidity of the gas market. It will also enable the Transmission System Operator to buy and sell gas on an organised market for the balancing actions necessary to the residual balance of the transmission network.
Suppliers and companies interested in trading Portuguese products must sign the Adhesion Contract to the market rules in Portugal and be authorised by the Global Technical Manager of the National Gas System (SNG). These rules were approved and published by ERSE, the Portuguese Regulatory Authority, through Directive No. 14/20 of 30 September 2020.