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Trading and distribution
How are oil and gas resources traded in your jurisdiction and what (if any) regulations and procedures apply to oil and gas sales, distribution and marketing activities, both nationally and internationally?
Gas and oil trading is fully liberalised, with the exception of pricing.
Natural gas volumes are traded at two natural gas hubs: Zeebrugge Beach and Zeebrugge Trading Point (ZTP). The following products are traded via the ICE Endex Exchange:
- Belgian ZTP gas daily futures;
- Belgian ZTP gas futures;
- Belgian ZTP gas spot; and
- Belgian ZTPL gas spot.
Is oil and gas pricing regulated in your jurisdiction?
The end-user price of natural gas consists of regulated and non-regulated components. The tariffs charged by the transmission and distribution system operators for access to and the use of their systems are determined by the relevant regulator. The commodity component of the gas price is not regulated.
For most petroleum products, prices are fully regulated. The Programme Contract of October 1 2006 between the federal state and the Belgian Petroleum Federation introduces maximum price calculation methods for various oil products. Prices are monitored and calculated by the federal government on a daily basis and published on its website.
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