TTF
Many national and international parties are active in the Dutch gas sector, such as gas producers, gas storage operators, network operators and gas distribution companies. The launch of the TTF in the Netherlands has created a major trading hub for buying or selling gas within the Dutch market area.
When the TTF was set up in 2003, this led to huge growth in gas trading in a single marketplace, significantly increasing gas trading liquidity. The volume of gas traded using the TTF as its transfer point has grown substantially in recent years and this volume is now the largest in Europe. TTF gas trades account for more than eighty times the volume of gas consumed in the Netherlands. Gas prices in the Dutch market area, made transparent through exchanges and data publishing agencies, have become important reference prices in Europe.
How does the TTF operate
The TTF (Title Transfer Facility) is a virtual transfer point within GTS’s national gas transport network. In other words, a network point where we offer market parties the opportunity to transfer gas that is already present in our system (‘entry-paid gas’) to another party. We register this trade through ‘nominations’, i.e. electronic messages stating the volume of gas transferred, the time period and the buyer and seller.
Although such gas trades are mutual business transactions between our customers, they must report transactions to us. This means we always know who owns the gas in our system.
Gas exchange
Gas exchanges facilitate the many parties who want to trade in gas on the TTF. Parties can buy or sell gas anonymously on the TTF via the gas exchange. The gas exchange brings together gas suppliers and gas buyers and is responsible for processing the financial transactions. The Ministry of Economic Affairs and Climate Policy has appointed ICE ENDEX and ECC B.V. as gas exchange operators for the Dutch gas market.
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