Indian Gas Exchange seeks regulatory nod to launch 3-6 month contract

economictimes.indiatimes.com:

Indian Gas Exchange (IGX) is looking for regulatory approval to launch a 3-6 month gas contract, its chief executive, Rajesh K Mediratta, said on Friday.
«We are awaiting a clearance from PNGRB (Petroleum and Natural Gas Regulatory Board),» Mediratta told reporters at a press conference.

IGX, a unit of Indian Energy Exchange, currently has intraday, dayahead, daily, and fortnightly contracts.

The pricing of the 3-6 month contract will be linked to global benchmarks and IGX's own index called GIXI.

The new long-duration contracts will have a payment cycle of a fortnight compared to the current 2-3 days, Mediratta said.

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