The European Energy Exchange and Powernext SA said they plan to combine market activities and create a pan-European gas market from first quarter 2013, Reuters reported Tuesday.

The move, pending cartel authority approval, is aimed at expanding Continental Europe's share of gas trading on exchanges, the report said.

All gas products are to be offered via platform provider Trayport, the two companies said in a statement, adding that "EEX and Powernext will remain two separate gas exchanges and will not create a joint venture."

Transaction clearing and settlement will be provided by EEX clearing arm, European Commodity Clearing (ECC), the report said.

EEX is majority-owned by German-Swiss Eurex, the derivatives unit of Deutsche Boerse AG (DB1.XE). Powernext, which launched French gas trading in 2008, was recognized by the Dutch Economy Ministry last month as a gas exchange, the report said.

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