India seeks consultants to frame regulations for gas trading hub


India seeks consultants to frame regulations for gas trading hub

With the Indian government aiming to set up a natural gas trading hub in the country, sector regulator the Petroleum and Natural Gas Regulatory Board (PNGRB) is seeking to appoint a consultant to help determine a regulatory mechanism for such a trading exchange.

“In  order to further boost the consumption of natural gas in the country, government is considering the establishment of a gastrading hub or a gas trading exchange where natural gas can be traded, and supplied through a market-based mechanism instead of multiple formula driven prices,” PNGRB said in a notice inviting consultants.

“The government has envisaged ushering in a gas-based economy by increasing the share of natural gas in the primary energy mix of the country from the current level of about 6% to 15% by 2030,” the PNGRB notice said. Read More

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