Centre mulls GAIL bifurcation, market-driven pricing to improve ‘transparency’

Petroleum Minister Dharmendra Pradhan said on June 15 that the Ministry was considering bifurcating GAIL and market-driven pricing for the sector to improve “transparency”.

Pradhan made the statement while launching the country’s first online delivery-based gas trading platform, the Indian Gas Exchange (IGX). Adding that the new exchange would pave the way for a market-driven pricing mechanism.

“IGX will create more transparency. India is joining the club of progressive economies. As there will be a market driven pricing mechanism, IGX will play a bigger role towards realizing a free market for gas,” he added.

Incorporated as a wholly-owned subsidiary of the IEX – India’s energy market platform, IGX will enable market participants to trade in standardised gas contracts. The platform is fully automated with a web-based interface to provide seamless trading experience to the customers.

Petroleum Minister Dharmendra Pradhan said on June 15 that the Ministry was considering bifurcating GAIL and market-driven pricing for the sector to improve “transparency”.

Pradhan made the statement while launching the country’s first online delivery-based gas trading platform, the Indian Gas Exchange (IGX). Adding that the new exchange would pave the way for a market-driven pricing mechanism.

“IGX will create more transparency. India is joining the club of progressive economies. As there will be a market driven pricing mechanism, IGX will play a bigger role towards realizing a free market for gas,” he added.

Incorporated as a wholly-owned subsidiary of the IEX – India’s energy market platform, IGX will enable market participants to trade in standardised gas contracts. The platform is fully automated with a web-based interface to provide seamless trading experience to the customers.