Adani Total Gas and Torrent Gas have acquired 5 per cent stake each in the Indian Gas Exchange (IGX). According to officials in the know, both have spent Rs 3.69 crore each for the 5 per cent stake.
IGX is a wholly-owned subsidiary of the Indian Energy Exchange (IEX). It is the first gas exchange in the country to have secured authorisation from Petroleum and Natural Gas Regulatory Board (PNGRB) under the Gas Exchange Regulations, 2020.
According to IGX, the exchange now has 16 members and more than 500 registered clients. “With three physical hubs at Hazira and Dahej in Gujarat and KG Basin in Andhra Pradesh, IGX has already traded 75,000 million British thermal units since its launch in June 2020.
