Indian Gas Exchange ties up with Europe’s CEGH to enhance natural gas trading
- A statement issued by the two entities jointly on Friday said that the partnership aims to strengthen India’s gas market by leveraging CEGH’s European market expertise and IGX’s deep expertise in the Indian gas market.
New Delhi: Indian Gas Exchange Ltd (IGX) has signed a memorandum of understanding (MoU) with Central European Gas Hub AG (CEGH), a gas hub operator in Central and Eastern Europe (CEE), to explore collaborative opportunities in trading of natural and renewable gases.
Renewable gases include green hydrogen, biomethane and e-methane that can be used in place of fossil fuels.
A statement issued by the two entities jointly on Friday said that the partnership aims to strengthen India’s gas market by leveraging CEGH’s European market expertise and IGX’s deep expertise in the Indian gas market.
Key focus areas of the MoU include trading of natural gas and renewable gases like hydrogen, biomethane, and e-methane, commodity-related certificates, market development, training programs and gas-hub operations.
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Focusing on
Further, both the companies would also collaborate on best practices for the operation of natural gas trading focusing on enhancing the technical, operational and regulatory capabilities. Insights from the Indian and European gas markets will be utilized and international best practices shared, facilitating the creation of a liquid and transparent gas market, the statement said.
IGX and CEGH also plan to explore the development of trading platforms for emerging green gases like hydrogen, biomethane along with trading of green gas certificates. Both parties will also work together to support gas hub operations in India.
Rajesh Kumar Mediratta, MD & CEO, IGX, said: “By partnering with CEGH, we aim to draw from the experience in Europe to accelerate the development of India’s gas market and expand the role of renewable gases in our energy mix. This partnership will enable us to co-develop innovative solutions for natural gas and renewable gas trading, strengthen market efficiency and enhance energy security.”
Gottfried Steiner, CEO, Central European Gas Hub, said: “We will support with our profound expertise on regulatory frameworks for gas trading and market liberalization, trading facilities, as well as gas hub development and operation.”
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Central European Gas Hub is the operator of the virtual trading point (VTP) in Austria and provides a gas nomination platform for international gas companies.
As part of the MoU, the parties will also develop tailored training programs, workshops, and certification courses to upskill market participants, regulators and stakeholders in India. In addition to the provision of training, commercial opportunities for market expansion and innovation-driven products shall also be explored.
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Business NewsCompaniesNewsIndian Gas Exchange ties up with Europe’s CEGH to enhance natural gas trading
First Published:10 Jan 2025, 08:07 PM IST
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