IGX launches India’s First Gas Price Index

  • The Indian Gas Exchange (IGX) launched GIXI which is the first ever, nationwide price index to reflect benchmark natural gas prices for India.
  • The index has been developed with the purpose to derive a single price for the country in line with international benchmarks.
  • The Price Index was introduced in line with the Central Government’s vision of achieving 15% share of natural gas in India’s energy mix.
  • Established in 2020, the IGX is India’s first automated national-level gas exchange for the physical delivery of natural gas.
  • The gas trade takes place at multiple delivery points, such as – Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, and Gadimoga. It covers six regional gas hubs, namely, the western hub, southern hub, eastern hub, central hub, northern hub, and northeastern hub across India.
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