The gas trading platform of Indian Energy Exchange (IEX) has found its first member in Manikaran Power Ltd (MPL). Called the Indian Gas Exchange (IGX), it will be India’s first gas trading platform.
IGX would offer spot and forward contracts at Dahej, Hazira and Kakinada. While Petronet LNG Ltd (PLL) operates a LNG terminal at Dahej, Shell operates another one at Hazira. Kakinada is the landfall point for natural gas being produced from the Krishna Godavari basin.
IGX commenced its membership drive in February this year. MPL which is already trading member in IEX, is the first to join hands with IGX.
MPL is an inter-state trading licensee and a trading member on IEX and trading cum clearing member on Power Exchange India Limited (PXIL). It was founded in 2008 by Navjeet Singh Kalsi and Jaspreet Singh Kalsi. The company has its headquarters in Kolkata and offices sprawled across Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Vadodara and Ahmedabad.
