In a significant move to strengthen India’s energy landscape, Indian Gas Exchange Limited (IGX) has entered into a Memorandum of Understanding (MoU) with Central European Gas Hub AG (CEGH) to foster collaboration in natural gas and renewable gas sectors. This partnership is designed to leverage the expertise of CEGH in European gas markets and IGX’s knowledge of the Indian market, marking a crucial step toward enhancing liquidity and sustainability in India’s evolving gas market.
Key Areas of Cooperation
The MoU outlines a broad range of collaborative activities, including natural gas trading, the promotion of renewable gases like hydrogen, biomethane, and e-methane, and the development of commodity certificates. The focus is also on creating operational models and regulatory policies that can help both markets function more efficiently and transparently.
Building a Liquid and Elective Gas Market
One of the central objectives of this partnership is to create a liquid and elective gas market in India, drawing upon the technical and regulatory expertise from both Indian and European perspectives. The collaboration aims to improve the operational and technical aspects of gas trading while setting up sound regulatory frameworks for the market’s growth.
Vast improvements in gas hub management and trading systems are expected, which could play a crucial role in transforming India’s gas market into a dynamic and efficient hub for both traditional and renewable gases.
Green Gases and the Future of Gas Trading
As part of the collaboration, IGX and CEGH will jointly explore opportunities to set up trading venues for emerging green gases, including hydrogen and biomethane. They also plan to introduce green gas certificates that will allow for transparency and traceability in the trading of renewable gases.
By promoting the trade and adoption of green gases, the partnership aligns with India’s broader vision of transitioning towards a gas-based economy and achieving a low-carbon future.
Digitalisation and Seamless Trading
The MoU also emphasizes the creation of a digitalised trading platform that will enable seamless transactions in natural and renewable gases. By facilitating easier access to the gas market and enabling efficient trading, this partnership aims to bring India closer to its long-term goal of energy security and sustainability.
This collaboration between IGX and CEGH is expected to play a pivotal role in transforming India’s gas market into a more efficient, sustainable, and transparent ecosystem, paving the way for broader adoption of green gases while bolstering India’s energy security.
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