Middle East’s first energy trading platform: International Mercantile Exchange

In a historic move, Gulf Energy today announced that it has signed Memorandums of Understanding (MoU) with the Qatar Financial Centre Authority (QFCA) and the Qatar Financial Centre Regulatory Authority (QFCRA), to establish the Middle East’s first dedicated energy trading platform – the International Mercantile Exchange (IMEX).

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Elaborating on the vision for IMEX, Mr. Esam Janahi, Chairman of Gulf Energy said, ‘Although the Middle East accounts for over 60% of the world’s proven oil reserves and over 40% of the world’s natural gas reserves, the region does not yet have a single energy trading platform. IMEX was conceived to bridge this gap by offering a transparent and technologically advanced energy trading platform under a well respected regulatory authority. IMEX is a natural fit into the region’s first energy business centre, Energy City Qatar. We are also exploring the possibility of collaborating with other similar exchanges in Asia and Europe to enhance the overall product service offering from IMEX.’

AME Info