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India sets October target for gas trading exchange

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LNG Industry,

According to Reuters, India plans to set up a natural gas trading exchange, as early as October this year, to prepare for a surge in supply from its east coast; in addition to a wave of new LNG terminals.

Dharmendra Pradhan, India’s Minister of Petroleum and Natural Gas, has reportedly set a deadline of 1 October for the country’s primary natural gas distribution regulator to set up the exchange.

Government sources have said that the exchange aims to standardise natural gas prices so that domestic prices are not set at such a discount to international market rates.

“If we have proper pricing and market access, then it is easier for the gas sector to develop,” said Atanu Chakraborty, head of India’s upstream regulator. The exchange will also help to reduce the risks associated with the pricing differences, he said.

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