Indian Gas Exchange sees record trade in Jan
The Indian Gas Exchange (IGX) has recorded the highest single-day trade of 560,000mn Btu of gas on January 11, it said on February 2. IGX traded 17,63,100mn Btu gas volume and delivered a record 16,23,350mn Btu last month.
Established in late 2020, IGX is India’s first automated national-level gas exchange for the physical delivery of natural gas. It facilitates trades in six different contracts such as day-ahead, daily, weekday, weekly, fortnightly and monthly at five different designated physical hubs - Dahej, Hazira, Dabhol, Jaigarh and KG Basin.
IGX CEO Rajesh Kumar Mediratta recently told NGW that the exchange will soon begin to trade locally produced natural gas which will lead to more end-users participating as buyers.