India will on Monday get its very own natural gas trading platform that will help discover local market price for gas through transparent demand-supply matching.
Oil minister Dharmendra Pradhan will launch the Indian Gas Exchange (IGX) to kickstart natural gas trading, official sources said.
IGX is India’s first automated national level trading platform to promote and sustain an efficient and robust gas market and foster gas trading in the country.
The platform will feature multiple buyers and sellers trading in spot and forward contracts at designated physical hubs. IGX is a neutral and transparent market-place where both buyers and sellers will trade gas as the underlying commodity.
