KUALA LUMPUR (April 10): Independent energy market solutions provider Asia Gas Hub  Sdn Bhd (AGH) said it will be using certified gas trading platform CG Hub to power its GasX domestic digital gas marketplace.

According to AGH's statement on Monday (April 10), GasX will serve as the marketplace for buyers and sellers to post, negotiate and execute transactions for domestic natural gas once it launches in June.

AGH said that the marketplace was part of its overall strategy to open up the natural gas market in Malaysia.

CG Hub will be customised for GasX and include, among other things, a centralised hub or dashboard for bids and offers for all members, customised details or needs for each transaction in an audit trail, and the ability to click to execute or begin a bilateral negotiation.

CG Hub is run by energy trading platform COMET. Both CG Hub and COMET were developed by Trumarx Data Partners Inc.

“After more than a yearlong analysis of available global technologies for this project, we selected CG Hub as the foundation for our gas marketplace,” said AGH managing director and chief executive officer Faris Mustaffa.

“The combination of CG Hub’s deep capability, its adaptability for our market, and the impressive track record of the COMET team in delivering customised solutions for global energy companies was the winning combination.”

Meanwhile, COMET’s chief operating officer Mike Mackey said: “This further confirms that our CG Hub technology is a leader in both the traditional and low methane global natural gas marketplace.”

“We are encouraged by AGH’s bold and innovative endeavour which will benefit not just Malaysia but also the region and global gas market,” he added.