Rajiv Srivastava, Managing Director and CEO, IEX and Director, IGX commented:
It is a proud moment for us to launch Indian Gas Exchange. IEX, over the last 12 years has successfully furthered government’s agenda of 24 x7 power for all through technology-led electricity markets. We now endeavour to build gas markets in the country to support the government’s vision to increase the share of gas from 6% currently to 15% by 2030 in India’s energy mix.
Srivastava added:
IGX will drive industrial competitiveness, sustainability, spur investments in the gas value chain, deliver efficient utilisation of the pipeline infrastructure as well as ensure revival of gas-based power plants.
The IGX will offer six market products beginning from day-ahead market and forward contracts including – Daily, Weekly, Weekday, Fortnightly and Monthly at three physical offices in Dahej, Hazira in Gujarat and Odoru in Andhra Pradesh and it plans to add more in the future.
Hirander Misra, Chairman of GMEX Technologies said:
We are delighted to be the strategic technology partner for IGX as cutting-edge technologically enabled energy marketplaces of the future. IGX will architect India as a market-based gas economy, whilst also leading to sustainable environmental benefits.
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