IGX and CEGH sign MoU to enhance natural and renewable gas markets

Mumbai, January 10, 2025: Indian Gas Exchange Limited (IGX), India's authorized natural gas exchange & Central European Gas Hub AG (CEGH), the leading gas hub operator in Central - and Eastern Europe (CEE) based in Vienna, Austria (European Union) today announced the signature of a Memorandum of Understanding (MoU) to explore collaborative opportunities in natural gas and renewable gases trading. This 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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A key objective of the partnership is to collaborate on best practices for the operations 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 practice will be shared, facilitating the creation of a liquid and transparent gas market. IGX and CEGH also plan to explore the development of trading platforms for emerging green gases like hydrogen, biomethane (including green gas certificates). Both parties will also work together to support gas hub operations in India.

Expressing enthusiasm on the partnership, Mr. Rajesh Kumar Mediratta, MD & CEO, IGX said, "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. This partnership will enable us to co-develop innovative solutions for natural gas and renewable gas trading, strengthen market efficiency and enhance energy security. Together, we aim to create a seamless, technology-driven trading experience while advancing India’s ambition of a gas-based economy and a sustainable energy future.”

Speaking on the development, Gottfried Steiner, CEO, Central European Gas Hub AG (CEGH) said, “We are excited to collaborate with IGX and look forward 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.”

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 trainings, commercial opportunities for market expansion and innovation-driven products shall be explored.

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ABOUT IGX

Indian Gas Exchange Limited (IGX) is India’s authorized natural gas trading exchange. Powered by state-of-the-art technology, the Exchange provides a transparent, efficient, and competitive marketplace to trade in the spot and forward gas contracts at designated delivery points across six regional hubs. IGX facilitates indigenous price discovery reflective of Indian supply and demand, showcased by its benchmark price index, GIXI.

The Exchange operates under the regulatory framework of Petroleum and Natural Gas Regulatory Board (PNGRB).

ABOUT CENTRAL EUROPEAN GAS HUB:

Central European Gas Hub AG (CEGH) is the Operator of the Virtual Trading Point (VTP) in Austria and provides a gas nomination platform for international gas companies. The Gas Exchange Products for the Austrian and Czech markets are offered on the EEX gas trading platform in cooperation between EEX and CEGH. CEGH is a subsidiary of OMV Gas Logistics Holding (65%), Wiener Boerse (20%) and Eustream (15%). In 2023, CEGH has proven its position as one of Europe's leading trading platforms when it achieved a nominated volume of 575 TWh of natural gas at the CEGH Virtual Trading Point.

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