Torrent-Adani Total Acquire Stakes In Indian Gas Exchange
Torrent Gas and Adani Total both have acquired 5% stakes each in Indian Gas Exchange (IGX). Both the firm has spent Rs 3.69 crore each. IGX which is a wholly-owned subsidiary of the Indian Energy Exchange (IEX) is the first gas exchange in the country to have secured authorization from Petroleum and Natural Gas Regulatory Board (PNGRB). The authorization has been given under the Gas Exchange Regulations, 2020.
The IGX now has 16 members and more than 500 registered clients with 3 physical hubs at Hazira and Dahej in Gujarat and KG Basin in Andhra Pradesh.