New Delhi: National Stock Exchange (NSE) has acquired a 26% equity stake in the Indian Gas Exchange (IGX), the country’s first physical delivery-based gas exchange. ONGC has also bought a 5% stake in the exchange.
Adani-Total Gas, Torrent Gas, and GAIL (India) already own a 5% stake each in the exchange. IGX, a unit of
, has recently received regulatory clearance and begun gas trading.
“Both NSE and ONGC bring their unique value proposition and leadership edge in markets and hydrocarbon sector respectively to the table,” S N Goel, Director, IGX said.
The Indian Gas Exchange currently offers trading in five contracts at three physical hubs – Hazira and Dahej in Gujarat and KG Basin in Andhra Pradesh. The exchange has over 500 registered clients and 15 members and has cumulatively traded 100,000 million metric British thermal units of gas so far, IGX said.
