Government launched the Indian Gas Exchange (IGX)

India’s first nationwide online delivery-based gas trading platform, Indian Gas Exchange (IGX) has launched by the government in an e-ceremony. As there will be a market driven pricing mechanism, India Gas Exchange (IGX) will play a bigger role towards realizing a free market for gas.

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Key-Points

IGX will be a delivery-based trading platform for delivery of natural Gas. The trade on the platform has commenced.

IGX has been incorporated as a wholly owned subsidiary of the IEX, which is India’s energy market platform.

IGX will be a delivery-based trading platform for delivery of natural Gas. The trading platform will enable market participants to trade in standardised gas contracts.

The exchange is expected to facilitate transparent price discovery in natural gas, and facilitate the growth of the share of natural gas in India’s energy basket. IGX is fully automated with web-based interface and it provides seamless trading experience to the customers.

The new electronic trading platform for natural gas is the biggest indicator of the centre’s progressive policy as it completes the entire energy value chain from gas production from multiple sources and imports of LNG from different parts of globe to having a transparent price mechanism.