Indian Energy Exchange launches country's first gas trading platform
Indian Energy Exchange (IEX) launched the country's first
gas trading platform, the Indian Gas Exchange (IGX), for physical delivery of
The platform will help foster the government's vision of
increasing the share of natural gas in the energy mix from 6 % presently to 15 %
by the year 2030.
The move is part of the government's plan to establish the
gas trading hubs and exchanges in the country wherein the natural gas can be
freely traded and supplied through a market mechanism.
As per draft National Energy Policy of NITI Aayog, $150
billion capital investment is needed in energy sector on an annual basis until
IGX : A fact file
Established in 2020, the IGX is India's first automated
national-level electronic trading platform which provides a neutral and
transparent marketplace to multiple buyers and sellers to trade in spot and
forward contracts at designated physical hubs.
The IGX commenced its membership drive in February this year
ahead of its formal launch. It has 12 members and 300 plus clients so far which
includes buyers, sellers and users.
The online gas trading platform intends to offer
transparency, competitive price of natural gas, 24x7 trade facility, delivery
facilitation and ease of transaction to the market participants.