ndian Energy Exchange (IEX) has announced further divestment of 5 per cent equity stake in Indian Gas Exchange (IGX) to GAIL (India) Ltd.
With 15 members and more than 500 registered clients, IGX currently operates from three physical hubs –Hazira and Dahej in Gujarat and KG Basin in Andhra Pradesh.
Speaking on the development, S N Goel, Chairman, IEX & Director, IGX said, “With strong impetus from the government to create a conducive policy and regulatory framework, Gas markets are on the cusp of breakthrough growth. Competitive domestic gas markets are crucial to build a gas-based economy. In line, IGX is pro-actively working in collaboration with the stakeholders to build gas markets ecosystem in the country. We are delighted to welcome GAIL onboard as our partner and unite our strengths to realize India’s vision of a gas-based economy.”
First Two Investors
On January 22, 2021, IEX announced the strategic investments by two leading energy players, Adani Total Gas and Torrent Gas, in IGX. They acquired 5% equity stake each in the platform. Launched on June 15, 2020 as a gas trading platform, IGX has since become the first gas exchange to receive authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) under recently notified Gas Exchange Regulations 2020. (read more)
Largest Gas Pipeline Company
GAIL is India’s largest gas pipeline, marketing, and processing company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG re-gasification, Petrochemicals, city gas, E&P etc. The company owns and operates a network of around 12,900 km of high-pressure trunk pipelines. The partnership and collaboration between IGX and GAIL is a significant development which will go a long way and add robust value addition in development of the gas markets in the country.
(Featured photograph for illustration only)
