LONDON, Jan 8 (Reuters) - The Intercontinental Exchange ( ICE )

will extend its daily trading hours for European gas and

power ‌contracts by February 23, it said ​in a circular late on

Wednesday.

Europe ‍is increasingly relying ⁠on globally ⁠traded liquefied

natural gas to meet demand, ‌with the ​U.S. emerging as its key

supplier and the new ⁠trading times ‍will ​match the 22-hour

trading cycle of the US Henry Hub gas ‍market.

The new hours for its Dutch TTF, British National Balancing

Point (NBP) and German Power contracts will be ​01.50-00.00 ‍CET

compared with the current trading hours of 08.00-18.00 ​CET, ICE

said.

ICE said it will engage with members and their customers over

the coming weeks about the proposed extension of the ​trading

hours and confirm the effective date in due course.