Oil and Natural Gas Corporation Ltd. (ONGC) has become the first Exploration and Production (E&P) company in India to trade domestic gas on 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.
After the deregulation in 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.
Press Release dated 23rd May 2022