- This was launched by Tarun Kapoor, Former Petroleum Secretary and Advisor to Prime Minister.
- This will act as the benchmark for natural gas prices in India.
- Benchmarking is done with reference to various international standards like JKM (Japan Korea Marker), HH (Henry Hub), WIM (West India Marker), and TTF (Dutch).
- It will be reflected on all the gas trade based on volume-weighted average price.
- IGX is India’s first automated national-level gas exchange.
- It will supply over 447 lakhs MMBtus (1.1 Billion Cubic Meters) of gas since its entry.
- The IGX pricing will be done in various delivery points based on the true market situation.
- This is done with the aim to achieve a 15% share of natural gas in India’s energy mix.
Question:
Q.1 Gas Price Indexing is done in India by whom?a. Indian Gas Exchange
b. Indian Oil Exchange
c. Indian Oil Corporation
d. Bharat Petroleum
