New Natural Gas Trading Platform to be Launched in June

Also, it would enable local suppliers to import LNG and trade it on GasX.

SEATTLE (Oil Monster): Asia Gas Hub Sdn Bhd (AGH)- the Malaysia-based leading independent energy market solutions provider announced that it will launch a new natural gas trading platform in June this year. The proposed launch of GasX, which will be powered by latest CG Hub technology, is expected to make Malaysia a hub of gas trading.

According to Faris Mustaffa, CEO and Managing Director, AGH, the digital gas marketplace would make the trading of gas more transparent and accessible. Malaysia has the potential to become an excellent market, on par with the U.S. and Europe. The company would focus on increasing local market awareness and making data more accessible.

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As per reports, AGH is already in talks with 17 local players with shipping license to trade on the platform, thus facilitating easy transport of gas to Malaysia.

In addition to GasX, AGH also plans to launch a digital system called LNGX to streamline and limit the importation of LNG, the launch of which is expected by the initial quarter next year.

The introduction of GasX and LNGX would make the Malaysian gas market more accessible to foreign suppliers. Also, it would enable local suppliers to import LNG and trade it on GasX.

It must be noted that AGH had signed a MoU with Universiti Teknologi Petronas (UTP) for technology development for the digital marketplace in June last year.