Wallumbilla in Queensland is a major gas supply hub. As a pipeline interconnection point for the Surat-Bowen Basin, it links gas markets in Queensland, South Australia, New South Wales and Victoria. It services industrial gas customers, LNG export facilities and gas powered generators, making it a natural point of trade and an ideal location for a gas trading exchange.
To supplement the voluntary gas supply hub located at Wallumbilla, the Moomba hub was established from 1 June 2016 to facilitate trade on the Moomba to Adelaide Pipeline (MAP) and Moomba to Sydney Pipeline (MSP). A spread product also allows for trading between the Wallumbilla and Moomba markets on the SWQP (representing the price differential between the two hubs at the MSP and WAL trading locations).
From 28 March 2017, the Wallumbilla hub was transitioned to a single product design. The WAL information in the figure is grouping the former South West Queensland Pipeline (SWQP), Roma to Brisbane Pipeline (RBP) and Queensland Gas Pipeline (QGP) trading locations under WAL. Trades at the in-pipe trading point at SEQ are included in the Wallumbilla (WAL) metric.
The churn rate represents the proportion of gas traded at each hub relative to the total gas supply in each region. The metric measures the amount of gas traded (both on and off market) at the Wallumbilla and Moomba locations, which is settled through the trading exchange. This is grouped by date of delivery and calculated as a proportion of the total gas flows from the Wallumbilla and Moomba Bulletin Board zones. Total gas flows are calculated as the pipeline receipts for all pipelines which report gas flows on the Bulletin Board are connected to these zones (a Bulletin Board pipeline reports a ‘receipt’ when gas is injected into it). Net flows on the Bulletin Board were disaggregated to display separate delivery and receipt information from 6 October 2016.