IGX Completes First Long Duration Gas Contract
OIL & GAS

IGX Completes First Long Duration Gas Contract

After delivering gas to the Hazira ONGC delivery point for three months (from May to July 2025), the Indian Gas Exchange (IGX) has successfully completed its first long duration contract (LDC). These contracts were launched at the start of 2025 after they received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB).

LDCs are designed for a 3–6-month duration and are aimed at providing buyers a price for natural gas determined by the Platts West India Marker (WIM). Platts WIM is the daily benchmark price assessment for LNG cargoes delivered internationally and is being used to try and link domestic gas prices to those of global ones.

IGX plans to use these contracts to cement themselves as a leading player in India’s gas trading industry. As Rajesh Mediratta, MD and CEO of IGX, said, “The conclusion of our first LDC marks a key milestone for IGX… The commencement of LDC is another step towards deepening our gas market.”

After delivering gas to the Hazira ONGC delivery point for three months (from May to July 2025), the Indian Gas Exchange (IGX) has successfully completed its first long duration contract (LDC). These contracts were launched at the start of 2025 after they received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB). LDCs are designed for a 3–6-month duration and are aimed at providing buyers a price for natural gas determined by the Platts West India Marker (WIM). Platts WIM is the daily benchmark price assessment for LNG cargoes delivered internationally and is being used to try and link domestic gas prices to those of global ones. IGX plans to use these contracts to cement themselves as a leading player in India’s gas trading industry. As Rajesh Mediratta, MD and CEO of IGX, said, “The conclusion of our first LDC marks a key milestone for IGX… The commencement of LDC is another step towards deepening our gas market.”

Next Story
Infrastructure Urban

DDA Approves Rs 87.2 Billion Budget for 2025-26

The Delhi Development Authority (DDA) has approved a budget of Rs 87.2 billion for the financial year 2025-26, with a strong emphasis on civic infrastructure development, green space rejuvenation, housing, and sports facilities, according to an official statement. Chaired by Lieutenant Governor V.K. Saxena, the budget meeting highlighted several large-scale projects, including the revitalisation of the Yamuna floodplain, creation of expansive parks, and upgraded civic amenities. Out of the total outlay, Rs 41.4 billion has been earmarked for capital expenditure, covering new roads, infrastruc..

Next Story
Infrastructure Energy

Vi Taps Cisco to Power Next-Gen Network

Telecom operator Vodafone Idea (Vi) has joined hands with US-based tech major Cisco Systems to revamp its transport network infrastructure across India. The strategic partnership aims to enhance network performance, scalability, and user experience for both retail and enterprise customers. As part of the agreement, Vi will deploy Cisco’s advanced Multiprotocol Label Switching (MPLS) technology to create a high-capacity, software-driven transport network. This will significantly improve the telecom player’s ability to manage surging data traffic and support data-heavy digital services such..

Next Story
Building Material

GPT Infra Commissions New Steel Girder Plant Near Kolkata

GPT Infraprojects announced the successful commissioning of its steel girder and components manufacturing facility in West Bengal on April 24, 2025. Located in Village Majinan, Hooghly district—about 60 km from Kolkata—the plant begins operations with an initial capacity of 10,000 metric tonnes per annum (MTPA). The company stated that the facility is in the process of securing RDSO (Research Designs and Standards Organisation) approval for manufacturing steel bridge girders. Once approved, this unit is expected to become a key asset for the company’s steel bridge segment, catering to c..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?