Gail Eyes Stake in Indian Gas Exchange: Press
India’s largest gas marketing company, state-run Gail, plans to acquire a 26% stake in India’s first natural gas exchange which went online last week, according to a local newspaper report published on June 25.
According to an expression of interest seeking equity participation in the gas exchange, Gail wants to come in as a promoter with a 26% equity stake, Mint reported. Gail chairman and managing director Manoj Jain told reporters on June 24 that the state-run firm is analysing the opportunity to buy a stake in the exchange.
On June 15, Indian Energy Exchange (IEX) launched India's first online delivery-based gas trading platform. The Indian Gas Exchange (IGX) was virtually inaugurated by Indian petroleum and natural gas minister Dharmendra Pradhan.
The delivery-based exchange will offer from a day to monthly trades, from Dahej and Hazira Hub in the state of Gujarat, and Kakinada in the state of Andhra Pradesh initially.