IGX answer to inflation: Trade gas on exchange to counter rising prices

Gas exchange's proposal also dovetails with plans by New Delhi to appoint a panel under Kirit Parikh to review India's gas pricing formulae

The Indian Gas Exchange (IGX) — the country’s premier natural gas trading platform — has a solution to surging prices of fuel. It has proposed to the government to trade a chunk of domestic gas on the exchange to counter rising gas prices that threaten to unravel India’s emerging gas economy.

IGX wants the government to permit gas consumed by India’s city gas distributors to be sold via auctions on the exchange in a way that benefits producers such as Oil and Natural Gas Corporation (ONGC) and city gas distribution (CGD) companies, says Rajesh Kumar Mediratta, chief executive officer, IGX.