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IEX enters into strategic partnerships with NSE and ONGC to build gas markets

IEX enters into strategic partnerships with NSE and ONGC to build gas marketsNew Delhi: India’s largest energy trading platform, Indian Energy Exchange (IEX), announced the strategic divestment of 26 per cent of its equity in Indian Gas Exchange (IGX) to theNational Stock Exchange(NSE) of India through its wholly-owned subsidiary NSE Investments Ltd and additional 5 per cent equity holding to Oil andNatural Gas Corp(ONGC).

The company said the agreement was signed by representatives of IEX, NSE, and ONGC in the presence of Tarun Kapoor, Secretary, Ministry of Petroleum and Natural Gas (MOPNG).

“Both NSE and ONGC bring their unique value proposition and leadership edge in markets and hydrocarbon sector respectively to the table,” S N Goel, Chairman and Managing Director, IEX and Director, IGX said.

IEX is the first and the largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, renewablepower, renewable energy certificates, and energy saving certificates.

IGX is a subsidiary of IEX and became India’s first gas exchange after it secured authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) in December 2020.

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