Natural Gas Exchange Inc. (NGX), a wholly-owned subsidiary of TMX Group that offers trading and clearing services for natural gas, crude oil and electricity contracts, today announced that it has opened three new natural gas clearing points in the United States. The clearing points, which are part of an overall expansion project that began in 2008, bring the total number of U.S. locations to 23.
"The latest expansion of our physical natural gas clearing services further improves our market offering to our existing client base," said Peter Krenkel, President, NGX. "We continue to expand the clearing services to additional points to more fully serve our natural gas trading customers."
The new locations include: El Paso Pipeline’s San Juan Blanco Pool; Texas Eastern Pipeline’s West Louisiana Pool; and Transcontinental Pipeline’s Station 85 Pool in Southern Alabama. All three points are add-ons to existing pipelines, expanding NGX’s overall footprint in the U.S.
Trading record set
NGX also announced today that it set a new record for energy volume transacted in 2009. The total of 14.7 million terajoules surpasses the previous record that was set in 2008.
Tom Kloet, CEO, TMX Group said: "We are pleased to have exceeded the previous milestone set for annual volume traded. Both this achievement, as well as our continuing U.S. expansion - as evidenced by the additional hubs announced today and our integration of NetThruPut and its crude oil products into NGX - highlight our continued progress in the North American energy market."
