In a major development, Adani Total Gas and Torrent Gas have become the first strategic investors in the Indian Gas Exchange (IGX) by acquiring five percent stake each. The IGX partnership with two of the leading gas players is expected to bode well in developing India’s gas market.
The IGX, an arm of the Indian Energy Exchange is the first gas exchange in the country to have secured authorisation from the Petroleum and Natural Gas Regulatory Board under the recently notified Gas Exchange Regulations, 2020. The Exchange currently has 16 members and more than 500 registered clients. The IGX has three physical hubs at Hazira and Dahej in Gujarat and KG Basin in Andhra Pradesh. Moreover, the exchange has already traded 75,000 MMBTU since its launch in June 2020.