The European Energy Exchange (EEX) and the Indian Gas Exchange (IGX), in partnership with the Gesellschaft für Internationale Zusammenarbeit (GIZ), have agreed to support the development of the hydrogen trading market in India. This cooperation project belongs to the International Hydrogen Ramp-Up programme supported by the German Federal Ministry for Economic Affairs and Climate Action (BMWK).
The project focuses on the support of green hydrogen projects and market development across selected emerging countries. The first activity of the collaboration will involve the collection of market information and attraction of local communities. Key players across different sectors of production, trading, transportation as well as consumption, will formulate an action plan having a mid-term target of developing an index and trading services for hydrogen in India.
Peter Reitz, CEO of EEX, stated that with hydrogen expected to play a crucial role in the energy transition, it is important to have a global focus when developing this sector.
Rajesh Mediratta, Managing Director and CEO of IGX, added that with their experience in creating energy markets in India, they are excited to use that knowledge to build the hydrogen market.
Tobias Winter, Director Indo-German Energy Forum Support Office at GIZ, further added that they are delighted to bring EEX and IGX together to initiate trading of hydrogen in India. The establishment of an Indian hydrogen price index particularly for green hydrogen would send price signals not only to the Indian market but also to interested offtakers globally.
