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Indian Gas Exchange receives approval to operate as gas exchange

Thursday, 03 Dec 2020
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The Indian Gas Exchange (IGX) has been authorised to operate by the Petroleum and Natural Gas Regulatory Board (PNGRB).

This approval has been given under the PNGRB (Gas Exchange) Regulations, 2020 for 25 years. These regulations were notified by PNGRB on 28 September 2020.

IGX had submitted its application for authorisation on 8 October 2020 under the new regulations of PNGRB.

IGX was established in 2020 as India’s first automated national-level trading platform for physical delivery of natural gas. It is a wholly-owned subsidiary of the Indian Energy Exchange (IEX).

The IGX platform provides a neutral and transparent market place to multiple buyers and sellers to trade in spot and forward contracts at designated physical hubs.

IGX currently offers trade in five contracts, namely Daily, Weekly, Weekday, Fortnightly and Monthly at three physical hubs at Hazira and Dahej in Gujarat and KG Basin in Andhra Pradesh.

The Exchange has over 500 registered clients and 14 members. Since its launch on 15 June 2020, the platform has cumulatively traded 74,600 million British thermal units of natural gas.

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