IGX Gets Regulator Nod for Long Duration Gas Supply Contracts

The Indian Gas Exchange (IGX) announced the launch of long-duration gas supply contracts of 3-6 months, following approval from the Petroleum and Natural Gas Regulatory Board (PNGRB).

- Press Trust of India

NEW DELHI:

These contracts would be available for trading from February 3 on the IGX platform, the exchange said in a statement.

IGX currently allows gas suppliers to sell the fuel on the exchange for durations ranging from daily to weekly, fortnightly, and monthly. It also offers intraday trading at a fixed price.

The exchange will now offer three-month and six-month delivery contracts indexed to gas benchmarks such as FIXI and Platts JKM, WIM, and Dated Brent.

"This would leverage IGX's Gas Price Index (GIXI) and international benchmarks Platts Japan Korea Marker (JKM), Platts West India Marker (WIM), and Platts Dated Brent," it said.