Portugal joins MIBGAS

 In Energy, News

Portugal’s National Energy Network (REN) says that Portugal’s entry onto the Iberian Natural Gas Platform (MIBGAS) which was launched on Tuesday, will contribute towards “increasing business competition and transparency”.

“The entry of MIBGAS in Portugal is an important step for the development of the Iberian natural gas market, contributing not just to increasing the level of business transparency and competition, but also towards boosting the number of players and the amount of liquidity in the gas market,” states REN in a communique.
The Portuguese Energy Services Regulator (ERSE) informed in a communiqué that it has now began negotiating natural gas products with the entry of the Iberian Natural Gas Platform (MIBGAS) into Portugal.
“ERSE has approved the rules for the trading on the MIBGAS platform of products destined for delivery to Portugal. This platform is recognised under the Law-Decree Nº 643/2015, dated 23 August, as an organised natural gas operator supplying Portugal,” informs ERSE.
With the start of trading products in Portugal, the Iberian coverage of MIBGAS is complete with it intending to be a ‘hub’ or virtual reference point for the sale of gas in South West Europe.