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ICE
July 2022

ICE Global Natural Gas Report

Highlights

Europe

  • Year-to-date volume growth continues in the UK OCM market, with 314.3 mln therms / 9.2 TWh traded in July and total volume year-to-date up 38.5% vs. last year-to-date.
  • TTF futures saw 2.79 mln lots / 2,050 TWh traded. OI reached 1.143 mln lots on July 28, and remains up to and including December 2028.
  • Additionally, the TTF 1st line futures contract saw OI grow for the first time since the Russian invasion of Ukraine. At the end of July OI was over 85,000 lots, having been less than 75,000 lots at the end of the previous month. Similarly, the NBP 1st line futures contract witnessed its second highest volume of 2022, with year-to-date volume now 200% higher than it was for the whole of 2021.

Open Interest: Contract Months Sep 22 onwards

TTF Futures and Open Interest

Asia

  • JKM futures volumes bounced over a third higher than the previous month, almost touching 42,000 lots.
  • JKM futures OI was 79,516 lots at the end of July. For the contracts listed at that point (Sep. 22 onwards) it was over 5,000 lots higher than it had been at the end of Jun, which was 74,165 lots.
  • Towards the end of the month and representing a trend which has continued and magnified into August, JKM screen volumes grew and for the final week of the month were over 5% of volume executed.

JKM Futures Open Interest

North America

Henry Hub

  • July futures volume dipped from a very active June, however increased compared to last July with 7,584,803 lots traded. The average daily volume (ADV) of 379,240 was 7% higher than last July. ADV this year has been 468,263 compared to 365,499 during the same period last year.
  • Henry Hub futures OI ended July at 6,078,724, a drop of 7% compared to the end of last July.
  • Henry options in July traded 3,893,805 lots, representing a 49% increase over last July’s volumes. July’s ADV of 194,690 was an even larger year-over-year increase as it was 57% higher than last July.
  • Options OI ended July at 8,591,751, an increase of 47% over last year.

Henry Hub Futures Open Interest


Financial Gas

  • Financial Gas futures volume in July was 2,986,064 which was a 35% increase compared to last July.
  • OI for Financial Gas ended July 7% higher than last year at 9,923,543 lots.

US Financial Gas Futures Open Interest

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