Union Petroleum and Natural Gas Minister, Dharmendra Pradhan has launched the Indian Gas Exchange (IGX). IGX is the first nationwide online delivery-based gas trading platform. The trading platform will enable market participants to trade in standardised gas contracts. IGX is fully automated with a web-based interface and it provides seamless trading experience to the customers.
The new electronic trading platform for natural gas is an indicator of the centre’s progressive policy. This will help the nation move towards free-market pricing of natural gas. IGX has been incorporated as a wholly-owned subsidiary of the Indian Energy Exchange (IEX), which is India’s energy market platform.