Indian Gas Exchange seeks approval to launch 3-6 month gas contracts

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Indian Gas Exchange seeks approval to launch 3-6 month gas contracts - Business Standard

Quick Summary:

Mediratta said the exchange has applied to the regulator, Petroleum and Natural Gas Regulatory Board (PNGRB), for permission to launch three-month and six-month delivery contracts indexed to gas benchmarks such as FIXI and Platts JKM, WIM and Dated Brent.

The Indian Gas Exchange (IGX) has sought regulatory approvals to launch 3-6 month gas contracts benchmarked to international gas prices, its chief executive Rajesh Kumar Mediratta said.

IGX currently allows gas suppliers to sell the fuel on the exchange for durations ranging from daily, weekly, fortnightly and monthly.