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Australian Natural Gas Derivatives

ASX Natural Gas Futures Contracts are listed for trading over the Wallumbilla Gas Supply Hub and Victorian DWGM in Australia.

The Australian Natural Gas Derivatives market on ASX Energy provides a regulated and standardized platform for managing wholesale gas price exposure through futures contracts.

ASX offers products referenced to key east coast gas hubs, including the Wallumbilla Gas Supply Hub (GSH) in Queensland and the Victorian Declared Wholesale Gas Market (DWGM).

These contracts are available via the ASX24 futures platform and are governed by the ASX24 Operating Rules alongside ASIC Market Integrity Rules.

Products Offered

  • Wallumbilla Natural Gas Futures (physically deliverable)

    • Contract unit: 100 GJ/day over a calendar month, deliverable at the Wallumbilla High Pressure Trade Point. Available up to 36 months forward. Commodity code: GZ. Delivery via Exchange for Physical (EFP). Trading hours: 10:00 am–4:00 pm AEST/AEDT.

  • Victorian Wholesale Gas Futures (cash-settled)

    • Contract unit: 100 GJ/day over a calendar quarter. Contracts listed quarterly up to 2.5 years ahead. Commodity codes: GX (Quarterly Futures) and GY (Strip). Settlement occurs on the fourth business day following the final trading day. Trading hours: 8:30 am–4:00 pm AEST/AEDT.

Market Characteristics

  • Standardization and Transparency: Each futures contract represents a standard quantity (100 GJ/day), supporting consistency and facilitating liquidity across the forward curve.
  • Risk Management Utility: Participants—including market participants and financial institutions—may utilize these derivatives to hedge price, credit, and basis risk within the gas market.
  • Diverse Settlement Types: Contracts cater to different market needs through both physical delivery (Wallumbilla GSH futures) and cash-based settlement (Victorian DWGM futures).

Regulatory and Operational Framework

All ASX Natural Gas Contracts are CFTC approved.

All contract specifications are detailed in Schedule 1 of the ASX24 Operating Rules, which remain the authoritative reference in case of discrepancy.

Key Resources