ONGC starts trading on Indian Gas Exchange
May 23, 2022
New Delhi [India], May 23 : Oil and Natural Gas Corporation (ONGC) on Monday started trading on the Indian Gas Exchange. With this, ONGC has become the first Exploration and Production (E&P) company in India to trade domestic gas on the Indian Gas Exchange.
The first online trade was made on 23 May 2022 by ONGC Director (Onshore) In-charge Marketing Anurag Sharma on India's first automated national level Gas Exchange, IGX. The gas traded is from ONGC Krishna Godavari 98/2 block, the Ministry of Petroleum & Natural Gas said in a statement.
After the deregulation of the gas pricing ecosystem in 2000-21, ONGC has prepared itself to reap the benefits. The quantity sold by ONGC through the Gas Exchange will be enhanced slowly, it added.
