Adani Total Gas and Torrent Gas have acquired 5 percent stake each in IGX (Indian Gas Exchange), becoming its’ first strategic investors, according to the Indian Energy Exchange (IEX)- the parent company of IGX.
Adani Total Gas and Torrent Gas have acquired the stake on the basis of meeting with the government’s vision to increase the share of gas in the energy mix from 6 percent to 15 percent by the year 2030.
To discover India’s own price benchmarks, this partnership will lead to efficient gas pricing and help in securing equal distribution of natural gas. “IGX can play a catalytic role for India’s gas market and will stimulate demand, increase availability and ensure competitive prices”, said by the Director of Torrent Gas Pvt Ltd.
IGX has already traded 75,000 MMBTU since its launch in June 2020 with two physical hubs in Gujarat and one in Andhra Pradesh.