GAIL, Adani, Petronet LNG join IGX; gas price of $4.07 per unit discovered

At a time when the price of domestic natural gas is as low as $2.39 per million metric British thermal unit (mmBtu), the Indian Gas Exchange (IGX) — the country’s first natural gas exchange — has got a market-discovered price of $4.07 per unit within the first two days of operation.

Launched on Monday, the platform — set up by the Indian Energy Exchange — has so far traded 100 mmBtu gas. 

Giving major boost to IGX, big liquefied natural gas (LNG) players like state-run GAIL (India) and Petronet LNG have joined the exchange as members. Private sector majors like Adani Gas,