Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan launched the Indian Gas Exchange (IGX), first nationwide online delivery-based gas trading platform. IGX will be a delivery-based trading platform for delivery of natural Gas. The trade on the platform commenced in his auspicious presence. Incorporated as a wholly owned subsidiary of the IEX - India's energy market platform, IGX will enable market participants to trade in standardised gas contracts. The platform is fully automated with web-based interface to provide seamless trading experience to the customers. Pradhan said that the launch of the new electronic trading platform for natural gas today has opened a new chapter in the energy history of India and help the nation move towards free market pricing of natural gas. He said that with this landmark, India is joining the club of progressive economies. As there will be a market driven pricing mechanism, India Gas Exchange (IGX) will play a bigger role towards realizing a free market for gas, he added.
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