Indian Gas Exchange (IGX) has received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB) to introduce a platform for booking regasification capacity at liquefied natural gas (LNG) terminals. The facility is intended to create a centralised mechanism for listing and booking unused capacity.

The platform will allow terminal operators and capacity holders to list available regasification slots, while prospective users will be able to identify and book capacity according to their requirements. Buyers will also be able to indicate their capacity needs, giving market participants greater visibility of demand and supply.

PNGRB said the initiative would support the growth of gas markets and build on its earlier decision to reduce pipeline tariff zones to two. The regulator said this change had made LNG terminals located farther from consumers more competitive, while the new platform could improve access to their available capacity.

The regulator also highlighted low capacity utilisation at several LNG terminals. It said transparent discovery of regasification charges could help attract additional LNG cargoes and improve the use of existing infrastructure.

IGX will facilitate capacity bookings, but contractual negotiations, payment settlements and risk management will continue directly between buyers and sellers under their respective agreements. Participation in the platform will be voluntary, preserving the bilateral nature of commercial arrangements. IGX is India’s first authorised physical delivery-based gas trading exchange and provides a marketplace for natural gas trading.