Overview
About Us
About Indian Gas Exchange Limited
Indian Gas Exchange Ltd. (IGX) is India’s first and only authorized national level physical delivery-based gas trading exchange, providing an organized, transparent and technology-enabled marketplace for trading natural gas, in accordance with the Petroleum and Natural Gas Regulatory Board (Gas Exchange) Regulations, 2020, as amended. The exchange features multiple buyers and sellers to trade in spot and forward contracts at designated delivery points. IGX is a neutral and transparent market place where both buyers and sellers trade natural gas as the underlying commodity. The contracts traded at Exchange are for compulsory physical delivery and settlement of the trade are subject to the condition that such contracts are non-transferable in nature and without any netting-off thereby. IGX enables efficient and competitive discovery of gas prices and one of its objectives is also to maintain market integrity.
IGX was launched on 15th June 2020 as a gas trading platform and has been operating as a gas exchange post receiving Petroleum and Natural Gas Regulatory Board's approval on December 2, 2020. The Exchange operates under the regulatory framework of Petroleum and Natural Gas Regulatory Board (PNGRB).
Our BackGround
The Government of India has set a policy target of increasing the share of natural gas in India’s energy basket to approximately15% by 2030. In 2025, whereas natural gas has a share of approximately 24% to the global energy supply. India’s natural gas sector has traditionally operated under a highly regulated framework, characterized by administered pricing, long-term bilateral contracts, and government-controlled allocation mechanisms. While such a system ensured supply security for priority sectors, it led to inefficiencies, lack of transparency, and limited market development
With the increasing importance of natural gas as a transition fuel in India’s energy mix, there emerged a strong need for a market-based mechanism that could facilitate efficient price discovery, improve supply flexibility, and integrate domestic and global gas markets. The establishment of the Indian Gas Exchange (IGX) in 2020 represents a major reform aimed at addressing these structural challenges and enabling the evolution of a competitive gas market ecosystem.
Features
Flexibility
Various types of contracts such as Intraday, Day-Ahead, Daily, Weekdays, Weekly, Fortnightly, Balance of Month, Monthly, 3 Month, and 6 Month with customization options.
Anonymous Bidding
Bidders remain anonymous, with each bidder unaware of their counterparty.
Efficient Price Discovery
Double-sided closed auction with uniform price mechanism or Continuous trade mechanisms.
Risk Management
Secure bid monitoring, counterpart guarantee, and margin requirements to ensure market integrity.
Transparency
Neutral and transparent trading platform with standard contracts and publicly available price discovery.
Secure and Scalable Technology
Rapid, accurate, secure, and efficient trading with pre- and post-trade functionalities, capable of handling complex orders, user-friendly web-based platform.
Clearing & Settlement
Periodic determination of financial and delivery obligations, with settlement according to IGX's settlement calendar.
Delivery
Delivery options at identified active hubs:
Delivered transactions: IGX books capacity on behalf of buyer
Ex-hub transactions: Buyer acts as shipper, books capacity, and manages pipeline settlements.
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