Indian Gas Exchange partners with Europe’s CEGH to enhance natural gas trading

New Delhi: The Indian Gas Exchange (IGX) has signed a Memorandum of Understanding (MoU) with Central European Gas Hub AG (CEGH), the Central and Eastern European (CEE) gas hub operator, to explore collaboration opportunities in trading of natural gas and renewable gases .

Renewable gases include green hydrogen, biomethane and e-methane that can replace fossil fuels.

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, a joint statement issued by the two entities on Friday said.

The main focus areas of the MoU include trading of natural gas and renewable gases such as hydrogen, biomethane and e-methane, commodity related certificates, market development, training programs and gas center operations.

focus on

In addition, the two companies will collaborate to develop best practices for natural gas trading operations, with a focus on enhancing technical, operational and regulatory capabilities. It will leverage insights from Indian and European gas markets and share international best practices to promote a liquid and transparent gas market, the statement said.

IGX and CEGH also plan to explore the development of emerging green gas trading platforms such as hydrogen and biomethane, as well as green gas certificate trading. Both parties will also work together to support gas hub operations in India.

Rajesh Kumar Mediratta, Managing Director and CEO of IGX, said: “By partnering with CEGH, we aim to learn from Europe’s experience, accelerate the development of the Indian gas market and expand the role of renewable gas in our energy mix. This The partnership will enable us to jointly develop innovative solutions for natural gas and renewable gas trading, improving market efficiency and enhancing energy security.”

“We will provide support using our deep expertise in regulatory frameworks for gas trading and market liberalization, trading facilities, and gas hub development and operations,” said Gottfried Steiner, CEO of the Central European Gas Hub.

The Central European Gas Center is the operator of the Austrian Virtual Trading Point (VTP) and provides a natural gas nomination platform for international gas companies.

As part of the MoU, both parties will also develop tailor-made training programs, workshops and certification courses to enhance the skills of Indian market players, regulators and stakeholders. In addition to providing training, business opportunities for market expansion and innovation-driven products should be explored.