Bhubaneswar: The Indian Gas Exchange (IGX), India’s first automated national level Gas Exchange to promote and sustain an efficient and robust Gas market, today organized an insightful seminar on “Competitive Sourcing of Natural Gas” in Bhubaneswar. The event highlighted Orissa’s emergence as one of the major natural gas-consuming states in India, underscoring the region’s growing importance in the national energy landscape. The seminar brought together industry leaders, policymakers, and experts to explore strategies for maximizing Eastern India’s natural gas potential.
Speaking on the occasion, the Chief Business Officer, Indian Gas Exchange (IGX), Mr. Deepak Mehta said, “The Eastern region of India holds immense potential for natural gas production and consumption. Currently, the region consumes only 10-12 MMSCMD of natural gas, but this is set to grow significantly with planned expansions at the Dhamra LNG terminal, the upcoming Gopalpur LNG terminal, and the vast Coal Bed Methane (CBM) reserves in states like West Bengal and Jharkhand. Orissa’s emergence among the top natural gas-consuming states underscores the transformative energy developments in this region. By unlocking the value of stranded gas resources & pipeline connectivity to end consumers, we can drive regional growth and enhance India’s energy security.”
Emphasizing the role of IGX in transforming the gas market, Mr. Mehta further said, “IGX provides a robust and transparent platform for producers and consumers to efficiently trade natural gas across India. As we expand our delivery points and diversify into emerging sectors like compressed biogas (CBG) and hydrogen, we aim to increase our market share to 5% over the next five years, facilitating the trading of gas through exchanges. Moreover, we are eagerly awaiting PNGRB approvals for Long-Duration Contracts (LDC), expected by December 2024 or January 2025, which will further enhance market opportunities and strengthen our commitment to innovation and sustainability.”
The Indian Gas Exchange (IGX) traded 39 million MMBtu (~1 BCM) gas volume in FY25, with a growth of 24% YoY till date. IGX currently offer trades at 15 delivery points. Out of which, 4 are LNG terminals, 3 are Pipeline Interconnection Points and 8 are domestic gas field land fall points & offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, under which the trade can be executed for twelve consecutive months. During this FY, 990 trades are executed at IGX platform till date.
