Asia Gas Hub (AGH) and COMET announced 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
“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. We look forward to working with the AGH team to revolutionize the Malaysian domestic gas market,” said Mike Mackey, COO for COMET.
