Austria’s Central European Gas Hub (CEGH), situated at the crossroads of gas routes between East and West, wants to become one of Europe’s major trading hubs. In an interview with European Energy Review, CEO Gottfried Steiner reveals CEGH’s strategy to expand the hub’s spot-market trading, raise its liquidity and diversify the supply lines to the physical hub at Baumgarten that is connected with the CEGH. ‘There will be a lot of gas from different sources all coming to Baumgarten. It will be like heaven for traders.’
The European gas market is, slowly but surely, undergoing a radical transformation. Traditionally it has been dominated by a few large, state-owned suppliers (notably from Russia and Norway) who had long-term contractual relationships with a limited number of large buyers, e.g. German utilities like Eon and RWE (who also used to be state-owned).
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