Seneca, Northeast Natural first to join certified gas hub
SUMMARY
CG Hub was launched in 2022 to bring liquidity and transparency to certified gas. [Image: Seneca Resources]
By Dale LunanCG Hub, a trading platform launched in October 2022 by MiQ and TruMarx Data Partners, said June 12 Seneca Resources and Northeast Natural Energy had joined its certified natural gas platform, providing access to more than 1bn ft3/day of certified natural gas liquidity.
Supporting primary and secondary market trading in natural gas and related certificates from all certifiers, CG Hub creates a transparent, centralised platform for bids and offers, along with a detailed audit trail of certification details and methane emissions levels for each transaction.
“Certified natural gas is the bridge to the future of sustainability,” said CG Hub CEO Jon Olson. “By creating a trading platform that supports a vibrant and dynamic marketplace in certified natural gas, we believe CG Hub will play a critical role in driving market-led transformation of the natural gas industry.”
Currently, MiQ and other natural gas certification services have certified about a third of all US natural gas supply, and the market for certified natural gas is expected to grow exponentially in the coming months, with certified supply commanding a premium over non-certified gas.
“Good will and commitments to sustainability are one thing, but getting true, industry-wide buy-in for certified natural gas also requires market-driven financial incentives to do the right thing,” MiQ CEO Georges Tijbosch said. “CG Hub will play a key part in the commercialisation of certified natural gas and we are delighted to see so many future-facing businesses working to drive change in global methane emissions.”
Seneca Resources has turned to MiQ and Equitable Origin to jointly certify 100% of its natural gas production, earning an ‘A’ rating from MiQ. Northeast Natural Energy was one of the first companies in the US, and the first in its home state of West Virginia, to achieve the same ‘A’ rating from MiQ.
