COMET, MiQ launch trading hub for emissions certificates
COMET, a cloud-based energy trading platform operated by Chicago-based TruMarx Data Partners, and natural gas certification provider MiQ said October 12 they had launched the world’s first trading hub for certified natural gas.
CG Hub is intended to drive greater emissions transparency in natural gas, trading only gas that has been certified based on its methane emissions. MiQ has certified about 15bn ft3/day of natural gas production, mainly in North America, and carries 1.2bn certificates in its digital registry, a demonstration of the potential for certified gas to trade on the CG Hub and drive meaningful action on climate change.
“While we wait for the world to transition to clean energy, we need to create the infrastructure for the market to deliver change on emissions today,” MiQ CEI Georges Tijbosch said. “The hub will bring transparency and drive demand for certified natural gas by taking it from a niche, bilateral trading ecosystem to a thriving, dynamic marketplace.”
Leading global energy producers, traders and buyers who will participate in the platform are expected to be named soon. COMET itself has more than 250 corporate members who would be eligible to use the CG Hub.
“Working with MiQ to develop the CG Hub concept is a major step in opening up the nascent certified gas market that we believe will deliver on the promise of significant methane reduction,” COMET COO Michael Mackey said. “We are gratified by the initial positive market response to CG Hub and look forward to working with many more progressive firms to improve emissions transparency, price discovery, encourage liquidity, and provide a community to drive methane reduction awareness.”