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    Indian Gas Exchange sees record trade in Jan

Summary

The exchange recorded the highest single-day trade on January 11.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Asia/Oceania, Security of Supply, Corporate, News By Country, India

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.