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.