IGX and CEGH sign MoU to boost natural gas and renewable energy trading – EQ
In Short : The Indian Gas Exchange (IGX) has signed an MoU with Austria’s Central European Gas Hub (CEGH) to enhance the trading of natural gas and renewable gases, including hydrogen and biomethane. The partnership aims to boost India’s gas market by leveraging CEGH’s expertise and IGX’s market knowledge, focusing on market development, training, and the creation of trading platforms for green gases.
In Detail : Indian Gas Exchange Limited (IGX), India’s authorised natural gas exchange, and Central European Gas Hub AG (CEGH), a leading gas hub operator in Central and Eastern Europe, have signed a Memorandum of Understanding (MoU) to collaborate on trading natural gas and renewable gases.
This partnership aims to bolster India’s gas market by leveraging CEGH’s European expertise and IGX’s in-depth knowledge of the Indian market.
The MoU focuses on several strategic areas, including:
- Trading of natural gas and renewable gases such as hydrogen, biomethane, and e-methane.
- Development of trading platforms for green gases and commodity-related certificates.
- Enhancing technical, operational, and regulatory capabilities for gas trading.
- Sharing best practices from Indian and European gas markets to promote a liquid and transparent marketplace.
- Conducting training programs, workshops, and certification courses for stakeholders to strengthen market operations.
The partnership will also explore innovative solutions to facilitate efficient trading and market expansion while advancing the role of renewable gases in India’s energy landscape.
Commenting on the partnership, Rajesh Kumar Mediratta, MD & CEO of IGX, highlighted its potential to transform India’s energy future.
“This MoU marks a significant milestone for IGX, as we collaborate with CEGH to shape the future of gas and renewable energy markets. 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,” said Mediratta.
He further emphasised the partnership’s focus on co-developing technology-driven solutions to strengthen market efficiency and support India’s ambition of becoming a gas-based economy.
Gottfried Steiner, CEO of CEGH, expressed excitement about the collaboration and its potential to influence international gas markets.
“We are excited to collaborate with IGX and look forward to shaping the development of international gas markets. 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,” said Steiner.
The MoU also prioritises capacity building through tailored training programs for market participants, regulators, and stakeholders in India. These initiatives aim to enhance skills and foster a deeper understanding of market dynamics, ensuring a seamless integration of global best practices.
