New Delhi: 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 May 23, 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 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. Speaking on the occasion Director, Onshore, Sharma said: “It is heartening to learn that ONGC is becoming the first E&P company to trade domestic gas at IGX and is ready to realize higher value for every molecule of gas available for sale.” /BI/
