Asia Gas Hub Selects COMET/CG Hub to Power GasX for DomesticGas Market in Malaysia
Asia Gas Hub and COMET/CG Hub partner to deliver an innovative digital platform “GasX” to facilitate gas trading in Malaysia.
GasX will increase liquidity, price discovery, and transparency for gas procurement as this market evolves.
GasX provides an over-the-counter (OTC) trading facility designed to digitalize the Malaysia natural gas market.
April 14, 2023 – Chicago & Kuala Lumpur – Asia Gas Hub (AGH) and COMET today announce that COMET’s newest technology, CG Hub, has been selected to power AGH’s Malaysian GasX domestic natural gas marketplace launching in June of this year.
As part of a larger overall strategy to open up the natural gas market in Malaysia, AGH will implement a customized version of CG Hub to serve as the marketplace for buyers and sellers to post, negotiate and execute transactions for domestic natural gas.
“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 Faris Mustaffa, Managing Director and CEO of AGH. “The combination of CG Hub’s deep capability, its adaptability for our market, and the impressive track record of the COMET team in delivering customized solutions for global energy companies was the winning combination.”
The CG Hub provides the GasX marketplace with:
A centralized Hub (dashboard) for bids and offers all members can view
List customized details or needs for each transaction, all captured in the audit trail
Notifications to all members when a new deal is posted
Ability to click to execute or begin a bilateral negotiation
Receive an automated transaction confirmation
Comprehensive audit logs meet a variety of compliance and regulatory standards
“We are pleased and gratified to have been chosen as the technology provider to GasX,” said Mike Mackey, COO for COMET. “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 endeavor which will benefit not just Malaysia but also the region and global gas market. We look forward to working with the AGH team to revolutionize the Malaysian domestic gas market” he adds.
Media Contact
Lisa Kleeman
lisa.kleeman@trumarx.com
About COMET
Headquartered in Chicago with offices throughout the US, TruMarx Data Partners, Inc. is an experienced team of energy professionals with an established track record delivering powerful technology solutions, including the marketplace COMET, and CG Hub to meet energy market challenges facing our global customers, including the measurement of specific transactional attributes required to quantify ESG goals.
About Asia Gas Hub
AGH is an independent energy market solutions provider, fueled by passionate, experienced and qualified experts in the oil and gas industry, digital project management and equity, financial & commodity exchanges. With over a century of experience, we have in-depth insights of the whole ecosystem, access to a vast network and a wide knowledge structure to formulate innovative solutions to overcome challenges.
