Indian Gas Exchange Highlights Market Reforms With PNGRB Leaders

Indian Gas Exchange (IGX), India’s first automated national gas trading platform, organized an event ‘Empowering Gas Market Together’ with participation from key policymakers and industry leaders, including Dr. Anil Kumar Jain, IAS, Chairperson, Petroleum and Natural Gas Regulatory Board (PNGRB), and Shri A.K. Tiwari, Member, PNGRB), along with stalwarts from the industry, who shared their perspectives on the evolving dynamics of India’s natural gas market, the importance of market-based reforms, and the role of exchanges in strengthening transparency, liquidity, and investor confidence across the gas value chain.

Speaking at the event, Dr. Anil Kumar Jain, IAS, Chairperson, PNGRB, said, “India has made significant progress in building the physical foundation for a gas-based economy, with expanded pipeline capacity, LNG terminals and city gas distribution networks across the country. The focus now is on growing gas consumption through greater market openness, higher participation and improved efficiency. Platforms such as IGX play a crucial role by bringing transparency, enabling price discovery, facilitating gas and LNG capacity trading. We are keen in supporting reforms such as the entry–exit system for creating customer-friendly market framework. As India’s gas market continues to evolve, alignment with global norms will help improve efficiency, optimize costs and support the sustained growth of the gas ecosystem.”

Mr. A.K. Tiwari, Member, PNGRB said, “India’s gas sector is at a critical juncture and the theme of IGX’s event underscores the importance of all stakeholders working together across the gas value chain. IGX plays an important role in enhancing transparency, liquidity and price discovery in the gas market. IGX has been introducing new products which would be instrumental in deepening of exchange-led trading. We are keen to see more contracts on exchange like 1 year, 2-year contracts, LNG trading, Regas Capacity Booking Platform, Renewable Gas Certificates etc. Furthermore, continued engagement among stakeholders will be essential to support market-aligned reforms and enable the sustained growth of a robust gas ecosystem.”

Adding to this, Mr. Rajesh Mediratta, Managing Director & CEO, Indian Gas Exchange (IGX), said: “Over past few years, India has made steady progress in developing gas infrastructure and introducing market-oriented reforms. However, for gas markets to truly mature, there is a need to strengthen Market Infrastructure, i.e. exchange to deepen competition, simplify access to infrastructure, and strengthen market-based price discovery. IGX has achieved fair success in bringing transparency and competition in gas markets. Further, with approval of gas futures linked to GIXI to NSE will further strengthen the ecosystem by offering structured tools to manage price risk and plan with greater certainty as India’s gas economy expands.”

Alongside market growth and the introduction of new risk-management instruments, IGX also announced a set of capability-building and digital initiatives to deepen market participation and improve efficiency across the gas value chain. These include the IGX App, which enables market participants to access gas markets on the go with real-time price visibility and faster decision-making; the IGX Academy, focused on capacity building and market education to strengthen understanding of exchange-based gas trading among industry stakeholders; and the Gas Management System, a digital platform designed to streamline gas allocations, nominations, and operational coordination, enhancing transparency, integration, and ease of doing business across the ecosystem.

During the event, IGX also shared insights from the recently launched Vision 2040 – Natural Gas Infrastructure in India report, a strategic roadmap launched by the Petroleum and Natural Gas Regulatory Board (PNGRB), outlining the reforms required to improve market transparency, and streamline access to infrastructure. The report underscores the need for market-driven pricing, removal of destination and resale restrictions in LNG contracts, transparent third-party access to pipelines and terminals, and institutional mechanisms such as an Independent System Operator to enable gas-on-gas competition and support the emergence of a national gas trading hub.