Indian Gas Exchange (IGX) is planning to offer liquefied natural gas (LNG) contracts on its platform, which will benefit buyers in areas that are not connected by pipelines, its CEO Rajesh Mediratta said.
IGX, the country’s only physical delivery-based gas exchange, launched three years ago and currently offers only natural gas contracts. In November, 6.7 mmscmd of gas traded on IGX, a fraction of the 178 mmscmd consumed in the country. About three-fourths of the gas traded on IGX is the locally produced volume that’s subject to a government-set price ceiling. The balance is mostly regasifed LNG.
