Media Release > Indian Gas Exchange for Identification of Gas Price
Back Ground :
1. IEX has been operational for over a decade and has proved to be highly effective tool for both buyers and sellers of electricity on a common exchange platform.
2. Two important aspect where IEX has been extremely successful is at complying to all the norms of electricity regulations and at the same time providing an effective IT tool to avoid any ambiguity in the process of exchange
Media Update :
1. Indian Gas Exchange is a venture by Indian Energy Exchange (IEX),all the expertise and experience of IEX will come handy in managing this platform.
2. IGX aims to provide a mechanism by which gas prices in Rs/mmBtu can be identified for India market, and move it away from depending on Brunt or even on Henry Hub based pricing
3.The competitive price discovery will facilitate the availability of gas at lower prices for cross-spectrum of industries across India, stimulate demand and facilitate greater investments in domestic gas exploration
EEACTS Analysis :
1. Government of India has a tremendous focus on increasing role of Natural Gas in India’s energy mix
2. From existing 6% to target of minimum 15% of total energy demand in India will be from Natural Gas, and hence a medium of identifying fair market value of natural gas is essential
3. Within it’s launch more than 100 buyers are already member of IGX, and as many as 6 sellers too have enrolled including GAIL & Petronet. This indicates the platform was need of the hour
Reference Links : Click Here to Visit IGX Website