The volume of trade on the Hungarian gas exchange, CEEEGEX, in November 2022 increased compared to the same month last year, from 3.03 TWh to 3.64 TWh, according to the monthly report of the exchange operator. At the same time, a record was achieved in November in terms of daily trade volume.
The higher volume can probably be attributed to the fact that prices on CX were below the levels realized on the CEGH and TTF hubs.
Total gas imports to Hungary decreased in November, while exports increased. At the same time, the withdrawal of gas from storage began as a result of increased consumption due to lower temperatures.
Hungarian gas consumption started to increase in September 2022, but still remained below the lowest levels recorded in 2019 – 2021.
The report added that flows via the Yamal and Nord Stream gas pipelines remained at zero, while deliveries via TurkStream remained stable in November. Gas export from Serbia has become the dominant route for Russian flows.
CEEGEX reminds that on November 22, the European Commission proposed that the price at the reference European TTF hub be limited to 275 euros per MWh from January, but that no agreement was reached. Only the index for the joint purchase of gas and LNG was agreed upon.