First Strategic Investors in Indian Gas Exchange (IGX)
Torrent Gas and Adani Total Gas have become the first strategic investors in IGX- Indian Gas Exchange. Launched in June 2020, IGX is the first gas exchange in India.
Key Points
- Both Torrent Gas and Adani Total Gas, with stakes in both upstream and downstream hydrocarbon value chain, have acquired 5% equity stake each in Indian Gas Exchange (IGX).
- IGX is committed to playing a major role in the development of the gas market aligning with the government’s vision of increasing the share of gas in the energy mix to 15% by the year 2030 from 6% at present.
- Adani Total Gas Ltd has also shown its commitment towards building gas infrastructure for increasing the share of natural gas in the country’s energy mix.
- Indian Energy Exchange played a major role in transforming electricity trading. Similarly, the IGX is will transform the gas sector in the upcoming years.
- India’s first delivery-based gas exchange, Torrent Gas also regarded IGX as a catalyst for the country’s gas market.
Indian Gas Exchange
IGX is also the 1st gas exchange in India that received authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) under recently notified Gas Exchange Regulations 2020.
At present, IGX has 16 members and over 500 registered clients. The exchange has three physical hubs at Dahej and Hazira in Gujarat and KG Basin in Andhra Pradesh. With these hubs, the exchange has already traded 75,000 metric million British thermal units (MMBTUs) since its launch.
IGX is also planning to introduce two new hubs in West Bengal and Maharashtra.