GAIL acquires IEX’s 5% stake in Indian Gas Exchange

The Indian Energy Exchange (IEX) today said state-owned GAIL (India) Ltd has acquired five per cent stake of the IEX in its arm Indian Gas Exchange (IGX).

S N Goel, Chairman, IEX and Director – IGX said, “With strong impetus from the government to create a conducive policy and regulatory framework,gas markets are on the cusp of breakthrough growth. Competitive domestic gas markets are crucial to build a gas-based economy. In line, IGX is pro-actively working in collaboration with the stakeholders to build gas markets ecosystem in the country. We are delighted to welcome GAIL onboard as our partner and unite our strengths to realize India’s vision of a gas-based economy.”

Santanu Roy, Executive Director (Business Development & Corporate Affairs), GAIL said,“GAIL is committed towards development of gas-based economy in the country. The partnership between GAIL and IGX will benefit the gas sector as a whole and pave way for further development of gas market, more trading through gas exchange and increase in capacity utilization of pipelines.”