Dear Partners,

As of 9:00 a.m. (Sofia time) on July 15, 2025, the clearing services on the Balkan Gas Hub EAD market will be launched.

Please take note of the following details regarding the specifics of the cleared market:

·         Access to the cleared products tradable on-screen via Trayport Joule (VTP Bulgaria Cleared and VTP ICGB Cleared) will be granted to all BGH members who have completed their onboarding procedure with the central counterparty KELER CCP and have established the respective collateral for the short-term and/or long-term segments;

·         All products will be traded in EUR;

The most important changes to products and services, introduced to facilitate trading and align with best market practices, are as follows:

·         The DA (Day-Ahead) product will be delivered on the next business day in Bulgaria, rather than the next gas day. For example, DA traded on Friday will be delivered on Monday (if Monday is a business day);  

·        The BOM (Balance of Month) product will be traded on settlement days (business days in both Bulgaria and the clearing house) and will be delivered from the next settlement day onward, in accordance with the published Trading Calendars; 

·         A new spot product, NG Days, is introduced, allowing trading on individual public holidays in Bulgaria; 

·         Separate Saturday and Sunday products are introduced, while the Extended Weekend and Weekend products will remain available;  

·         A new product Season, is introduced, covering two six-month periods – Winter and Summer; 

·         Long-term products will be traded from 09:00 to 18:00 (Sofia time) on settlement days, according to the published Trading Calendars;  

·         BGH will continue offering the bilateral contract administration service in the non-anonymous segment of BGH;  

·         Trading on the BGH market will be fully suspended from 03:00 on July 14, 2025, until 09:00 on July 15, 2025 (Sofia time);  

·     To ensure settlement of transactions with a gas day delivery of July 14, 2025, the NG Monday (Mon 14/07/25) product will be offered for trading, in addition to the DA product with trade date July 13, 2025. Mon 14/07/25 will be open for trading from 09:00 on July 11, 2025, until 02:59 on July 14, 2025 (Sofia time).

Sincerely,

The Balkan Gas Hub EAD Team