Preparations are in full swing for the establishment of a Greek gas benchmark, expected to be launched by the energy exchange in the first quarter of 2024, energypress sources have informed.

The introduction of a Greek gas benchmark was set as a goal from the outset by the Greek energy exchange as part of its plan for further development of the gas trading floor.

The index for the Greek virtual trading point will be largely based on transactions carried out on the trading floor and will be included in reports alongside similar indices representing other European gas markets, well-informed sources noted.

Officials working on the plan are currently wrapping up preparations. A test period will precede the launch of the Greek gas benchmark to ensure that the index is sending accurate signals to the market.

Meanwhile, the Greek energy exchange is engaged in talks with a number of data providers for publication of energy exchange indices. Their publication is expected to attract a greater number of participants who are already on an expansion path and boost liquidity.