ICE Plans to Extend Trading Hours
Intercontinental Exchange (ICE) has announced its upcoming strategy to extend trading hours. This move aims to sync European gas and electricity futures with the 22-hour trading periods of the US Henry Hub and JKM (Japan Korea Marker) markets. The idea is to enhance trade flows among Europe, the US, and Asia, giving traders more options to manage risks in unpredictable gas markets. Additionally, ICE is working to empower traders with better hedging tools, effectively lowering risks by pricing contracts in USD/MMBtu.
This year, over 103 million Dutch TTF gas contracts have been shifted to ICE—a record-breaking achievement for the exchange, indicating a surge in European demand for US LNG. The rising number of TTF and JKM LNG futures contracts reflects heightened liquidity and a clear shift away from reliance on Russian gas. ICE is broadening its range of tools to help energy investors navigate regional markets, cope with pricing volatility, and respond to uncertain supply chains. By offering extended trading options and increased currency flexibility, ICE hopes to draw even more participants into the market and bring global gas hubs closer together.
European LNG import volumes have surged lately. In early 2025, imports from Russia hit an all-time high despite ongoing political strains, a trend driven by strong demand and the EU’s commitment to phase out gas by 2027. Although gas consumption is projected to dip slightly in 2025, largely due to renewable energy sources, LNG volumes have spiked significantly this year. Europe has emerged as a major player in the global LNG market, heavily influencing Asian buyers. In the first half of 2025, Europe boosted its LNG imports to a remarkable 75 billion cubic meters (bcm), marking a 40% increase year-on-year. Notably, the United States contributed 29.6 million tons (about 40 bcm), while Russia supplied 8 million tons.
Recently, the increase in U.S. natural gas prices has decelerated. Prices dropped from a two-year peak of $5.22/MMBtu on December 5 to $4.06/MMBtu in recent trading, the lowest since late October. Similarly, European natural gas prices have continued to decline, reaching 27.50 euros/MWh on Monday.
