Title Transfer Facility (TTF) and the...
Title Transfer Facility (TTF) and the Gas Exchange
The Title Transfer Facility (TTF) is a virtual market place where GTS offers market parties the opportunity to transfer gas that is already present in the GTS system (‘entry-paid gas’) to another party. Using TTF, gas that is brought into the national grid via an entry point can easily change ownership before it leaves the national grid at an exit point. TTF serves to promote gas trading. TTF can serve as a virtual entry point in the portfolio of a shipper or trader who buys gas on the TTF, or as a virtual exit point in the portfolio of a shipper or trader who sells gas on the TTF.
GTS registers the title transfers of gas via the TTF by means of a ‘nomination’. This is an electronic message stating the volumes of gas transferred, the period, and the purchasing and selling parties. GTS-admitted shippers and traders with a TTF subscription are permitted to trade on the TTF. A fixed monthly fee is charged for subscriptions. Apart from the subscription, the traded volume of energy is also subject to a variable fee. The variable fee is based on a tariff per kWh for traded volumes between 0 and 4 billion kWh and on another tariff for traded volumes exceeding 4 billion kWh. The tariff is charged to both buyer and seller on the TTF.
It is possible for a shipper to enter into a balancing relationship on the TTF with another shipper. In a balancing relationship, the two shippers, facilitated by GTS, agree that a previously unspecified quantity of gas will be transferred on the TTF from the offering party to the receiving party in the balancing relationship. The quantity of gas is subsequently determined on the basis of the allocations of the receiving shipper. The TSC has more details on this service.
The TTF also facilitates the operation of a gas exchange. A gas exchange allows parties to buy or sell gas anonymously on the TTF. The gas exchange operator is responsible for bringing together the two parties and for the financial transaction. If a gas trade is handled via a gas exchange, the gas exchange operator will execute the TTF nomination on behalf of the party concerned, where the amount nominated is based on balance of all transactions between the gas exchange operator and mentioned party. A TTF subscription with GTS is required for shippers to trade on the TTF via the gas exchange. The Dutch Minister of Economic Affairs has appointed APX-ENDEX as the Gas Exchange Operator. APX operates as a physical, short-term exchange with delivery on the TTF. Futures contracts are traded on ENDEX, also with delivery on the TTF.
To apply for a TTF subscription you can fill in the subscription form on our application forms page.
List of Registered TTF users
This list features shippers who have contracted the TTF service with GTS and have given their consent to publish their name and contact details on the GTS web site.
If you are entitled to trade on the TTF and would like to be added to this list or make a change in the contact details please fill in the TTF publication form on our application forms page.
You can do so by fax or e-mail (info@gastransport.nl).
To apply for a TTF subscription you can fill in the subscription form on our application forms page.