FGSZ increased its stake in CEEGEX

Hungary’s gas transmission system operator, FGSZ, has increased its stake from 51 per cent to 74.8 per cent in the Central and Eastern European Gas Exchange (CEEGEX), announced FGSZ. The transaction was completed on 15 October, with the remaining 25.2 per cent stake held by MAVIR, the Hungarian electricity transmission system operator.

CEEGEX operates Hungary’s organised gas market and the EKR (Energy Efficiency Obligation Scheme) certified energy savings market. The company is aiming to deliver a liquid regional gas market that provides safe and predictable solutions for its partners, in line with international practices.

The transaction does not affect the operation of CEEGEX’s markets; the company will continue to operate independently, according to its press release. FGSZ and MAVIR will continue to support CEEGEX’s operations as strategic partners.

In other CEEGEX-related news, HUDEX (Hungarian Derivative Energy Exchange), a CEEGEX subsidiary, closed a few weeks ago due to insufficient liquidity. HUDEX was established in 2018 to comply with EU regulations. CEEGEX then announced that it is working to re-establish a futures market for gas in the near future.