In a notable development, Indian Gas Exchange Limited (IGX) and Hindustan Petroleum Corporation Limited (HPCL) have signed a memorandum of understanding (MoU) to collaborate in strengthening the natural gas market across the country.
As part of this strategic partnership, IGX and HPCL will work together to establish a liquid and tradable market at the Chhara delivery point on IGX’s gas trading platform. This will cover various products, including regular spot contracts, small-scale LNG contracts, power contracts, and the newly introduced index-based long duration contracts.
The MoU also emphasises joint efforts to optimise infrastructure usage and support the revival of gas-based power generation.