IGX eyes 5% of total spot LNG and domestic gas trade on its exchange

Since its launch in June 2020, some 2 million standard cubic meters a day (mscmd) of natural gas have been traded on the Gas Trading Platform; current demand in India is around 160 mscmd

The Indian Gas Exchange (IGX) will be looking to increase its share in the country’s natural gas trade. This may be done by allowing some domestically produced gas that is under the administered pricing regime, to be traded on the exchange.

Rajesh Kumar Mediratta, Director at IGX told Business Standard, “Volumes of gas traded on IGX platform are quite low as compared to India’s current demand, which is around 160 million standard cubic metres per day (mscmd). In the medium term, we expect to have few percentage points of the total gas market on exchange. We expect few market enablers,