Indian Energy Exchange to launch spot gas exchange for marginal fields

If the IEX's plan succeeds, this will be the first spot gas market in the country

The Indian Energy Exchange (IEX), the country’s largest power trading platform, is looking at launching a spot gas exchange for trading of natural gas produced by marginal fields.
 
Speaking to Business Standard, S N Goel, managing director and chief executive officer, IEX, said the company was in discussion with stakeholders on the proposal.
 
“There is a disparity in gas prices. In India, the domestic gas price is $3.5 per mmbtu, while the LNG rate is $9 per mmbtu. If there is a market, the rate would be $7-8 per mmbtu,” he said.
 
Mmbtu stands for one million