Natural gas markets in Europe are shaped by infrastructure, not just regulation. From pipelines and storages to regulators and trading platforms, each part of the system is only one piece of the market access puzzle.
Our gas trading experts have created the overview below to help you understand what's required to become an active participant in Europe's wholesale natural gas markets.
Natural gas trading in Europe centers around a network of virtual trading hubs, with TTF (Netherlands), THE (Germany), and NBP (UK) among the most liquid. These hubs allow for seamless exchange of gas between counterparties without needing to specify the physical route.
The growth of these hubs has created a wholesale market with a mix of long-term contracts, spot trades, and financial products.
Gas prices in Europe are shaped by a range of fundamentals like supply contracts, LNG imports, weather forecasts, and storage levels. Political tensions and infrastructure issues, like pipeline outages or LNG terminal congestion, also drive volatility.
You can read more about the fundamental factors affecting Europe's gas prices here →
Europe's cross-border gas flows are built on a dense network of pipelines and interconnection points, which link national balancing zones. Access to cross-border capacity is typically managed via auctions on platforms like PRISMA, where shippers can bid for firm or interruptible capacity on specific routes.
Beyond pipelines, underground gas storage adds seasonal flexibility to European gas markets. Gas can be injected during periods of low demand and withdrawn during high demand to support security of supply.
Learn more about Germany's gas market, Europe's largest gas storage holder →
Entering a gas market involves more than just registration. The roles of traders and shippers are distinct, and the number of counterparties is larger than in power markets.
A trading license may allow financial or exchange-based transactions, while a shipping license is required for physical flows and capacity bookings. It is not uncommon for firms to mistakenly apply for one license when they need the other, which can add weeks, in some markets even months, to your market entry timeline.
Market access in natural gas markets involves several counterparties, each with its own requirements and onboarding timelines:
Unlike electricity markets, natural gas market access depends heavily on the role you intend to play and the markets you target. At Time2Market, our experts are ready to support you in establishing a gas trading desk and expanding your operations across Europe.
From selecting your licensing strategy to managing onboarding with TSOs, SSOs, and Interconnectors, we tailor every step to your goals. Whether you're entering one market or several, we streamline the process, handle the coordination, and build a robust setup for trading, capacity booking, and storage access.
What is the complexity or duration of a new market entry? We will help you scope and plan the process.
If local authorities require that you obtain a wholesale power or gas trading license, we will get you one.
We will deliver the required TSO access on your preferred power or gas grids for physical power and gas trading.
For taking position on the intraday, day ahead, or future markets, we will set up access for your preferred exchanges.
Time2Market is here to support you in being setup correctly to flow power or gas cross-border via your obtained capacities.
We offer continuous support during and after market entry to handle all ad-hoc tasks related to your trading activities.
Book a meeting with our experts below or get in touch through this form to find out how we can help you take your business to the next level.
Time2Market offers non-binding consultations to help you find out how we can accelerate your market entry case and take your energy trading desk to the next level.
Our bespoke solutions are always tailored to your priorities, current trading setup, and target markets. Find out what that means for the timeline of your next market entry ⬇️
