MIBGAS is the organized gas market operator (Spain and Portugal), responsible for its operational functions, and financial administration of its services, according to the principles of efficiency, transparency and objectivity, non-discrimination and independence. MIBGAS is also the Guarantee Manager. The regulated products (spot and prompt market) are traded in MIBGAS and the forward market products (futures contracts) and LNG in plantas are negotiated in MIBGAS Derivatives. MIBGAS, as Iberian Gas Market, contributes to the creation of the single energy market, having the European Target Model as frame of reference, similar to those types of gas hubs working in other European countries. MIBGAS is also the Guarantee Manager of the spanish gas natural system.