Indian Gas Exchange (IGX), a wholly-owned subsidiary of Indian Energy Exchange (IEX), expects to launch natural gas trading on its platform in May 2020 if the on-ground situation improves.
The company intended to launch the platform in March 2020. However, the lockdown measures to deal with the COVID-19 pandemic led to delay. IGX would be India’s first online gas trading platform for physical delivery of natural gas.
Initially, the company has identified Dahej, Hazira and Kakinada as delivery points and will subsequently include Dhabol, Kochi, Ennore and Mundra terminals. Trading of natural gas will take place in rupee and the minimum lot size would be 100 MMBTU.