The Indian Gas Exchange (IGX), the only gas trading platform in the country, has received the much-awaited regulatory nod to trade in domestic natural gas. The domestic gas trading will be launched on May 16, the company said.
On August 19, 2021, the ministry of petroleum authorised domestic gas producers to sell up to 500 million standard cubic metres or 10% of annual production from contract area, whichever is higher, per year through gas exchanges.
With this approval, upstream gas production of marketing and pricing freedom gas, such as from CBM,and domestic small fields, as well as marketing freedom ceiling gas (difficult fields) can now be effectively managed through flexible contracts at IGX.
