India’s first Gas Index was launched by IGX

Current Context: Indian Gas Exchange (IGX) has come up with the idea of Indexing Gas Pricing.

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.