TMX Group Inc. subsidiary NGX (Natural Gas Exchange Inc.) today announced the availability of physical clearing capabilities for the United States crude oil marketplace effective this week. This announcement adds further depth to NGX’s capabilities as a full-service energy marketplace offering clearing capabilities for both natural gas and crude oil to U.S. customers.
The availability of U.S. crude oil physical clearing is the result of the rapid and successful integration by NGX of NetThruPut Inc., which it acquired in May 2009. Combined, NGX and NetThruPut have cleared, on average, over 425,000 barrels of crude oil per day in 2009, with a delivered value exceeding $U.S. 1.2 Billion.
"NGX is strengthening our presence and extending our offering in the United States. As customers search for quick, simple and efficient venues through which to trade and acquire crude oil, they now have a partner in NGX which can deliver on time and on target. Combined with our existing offerings in natural gas and our track record of performance, NGX is fast becoming a one-stop shop for the physical clearing of energy to the industry," said NGX president Peter Krenkel.