A new platform for the trading of green gases, such as biogas and hydrogen, has been launched in Austria.
The Central European Gas Hub (CEGH), a fully consolidated company of OMV Group, launched the CEGH GreenGas Platform with plans to expand it into central and Eastern Europe.
Green gases like biogas and hydrogen will make a significant contribution to the decarbonisation of the energy system. Around 0.1 TWh of biomethane is currently being fed into Austria’s natural gas network. By 2050, 5 TWh of green gas should be available.
For green gases to make an effective contribution to decarbonisation, a functioning trading place must be established in the country.
“With the CEGH GreenGas Platform, we will enable trading in green gases for the first time,” said Gottfried Steiner, CEO of CEGH.
“Currently, there is neither functioning trading of these products nor a platform for it available. To achieve the ambitious expansion goals, transparency and liquidity on a trading platform are key requirements.
“We aim to actively support this and see ourselves as the ideal partner to the industry and energy suppliers in the expansion of green gases.”
CEGH, a company formed by OMV, Wiener Boerse, and the Slovakian gas grid operator Eustream, is the largest gas trading place in central and Eastern Europe, with a total trading volume of 749 TWh in 2021 – nine times Austria’s annual gas consumption. The CEGH GreenGas Platform will be the first platform to support the decarbonisation of the gas markets by trading green gases.
The platform enables the purchase or sale of biomethane guarantees of origin (GOs) as well as biomethane with our without GOs. In addition to a bulletin board, auctions will also be available. This means that, for the first time, suppliers and buyers can interact in a common marketplace, which will simplify trade conclusions and processing.