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Gas Exchange Gets Green Light for LNG Terminal Booking
16 Oct
Summary
- IGX receives approval for LNG terminal capacity booking platform.
- Platform aims for transparent and efficient access to terminal capacity.
- Regulator notes poor capacity utilization at many terminals currently.
The Indian Gas Exchange (IGX) has been granted regulatory approval to establish a novel capacity booking platform for liquefied natural gas (LNG) import terminals. This development is set to significantly enhance transparency and ease of access for users seeking terminal capacity.
The Petroleum and Natural Gas Regulatory Board (PNGRB) highlighted that many existing LNG terminals currently suffer from poor capacity utilization. The new platform is designed to address this by offering a centralized mechanism for listing and booking available regasification capacity.
Market participants will be able to efficiently identify and secure the necessary capacity according to their specific requirements. This voluntary platform provides an additional booking route, complementing existing bilateral agreements. IGX will serve as a facilitator, while direct contractual negotiations, payments, and risk management will continue to be handled by the involved buyers and sellers.
