India to launch natural gas trading hub | Daily Current Affairs 2021
1xbet 1xbet bahisno1 bahsegel casino siteleri ecopayz güvenilir bahis siteleri canlı bahis siteleri iddaa marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis marsbahis restbet canlı skor süperbahis mobilbahis marsbahis marsbahis marsbahis marsbahis

India to launch natural gas trading hub

Posted by
Subscribe for News Feed

The union government of India is planning to launch a natural gas trading hub by October, creating an Indian gas benchmark which will spark a surge in consumption of the cleaner-burning fuel.

According to a tender floated for hiring, Petroleum and Natural Gas Regulatory Board (PNGRB) has sought bids to hire a consultant to help develop a regulatory framework for operationalising the gas trading/exchange hub. In its tender, PNGRB said, ‘ In order to further boost the consumption of natural gas in the country, Government is considering the establishment of a Gas Trading Hub / Exchange (GTHE), where natural gas can be traded, and supplied through a market-based mechanism instead of multiple formula driven prices. The Government has envisaged ushering into a gas-based economy by increasing the share of natural gas in the primary energy mix of the country from current level of about 6 per cent to 15 per cent by 2030’.

PNGRB would visit USA, UK, and Australia, where the gas trading hub is successfully operating, to decide if there is a need to amend existing regulations. The target for launch of the gas trading hub has been set for October. A hub is used as a central pricing point for a network that could aid better price discovery for domestic as well as imported gas.

Subscribe for News Feed