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ONGC buys 5% stake in Indian Gas Exchange


ONGC buys 5% stake in Indian Gas Exchange
ONGC. Photo: Livemint
March 11, 2021
Oil and Natural Gas Corp (ONGC) on Wednesday said it has acquired a 5 per cent stake in Indian Gas Exchange (IGX), joining likes of Adani Total Gas, Torrent Gas and GAIL in nation’s first gas exchange.
“ONGC signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX) in the presence of Oil Secretary Tarun Kapoor and ONGC head Shashi Shanker,” the company said in a statement.
The Indian Gas Exchange is a subsidiary of the IEX – India’s premier nationwide, automated electricity trading platform. Earlier this year, the IEX announced the strategic investments of 5 per cent each by leading players in the gas value chain – Adani Total Gas, Torrent Gas and GAIL (India) Ltd in IGX. ....

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ONGC acquires 5% stake in Indian Gas Exchange


ONGC acquires 5% stake in Indian Gas Exchange
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Last Updated: Mar 10, 2021, 08:21 PM IST
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Synopsis
IGX is India s first automated national-level gas exchange for trading in natural gas in the country.
ONGC signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX).
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NEW DELHI: State-owned Oil and Natural Gas Corp (
ONGC) on Wednesday said it has acquired a 5 per cent stake in Indian Gas Exchange (IGX), joining likes of Adani Total Gas, Torrent Gas and GAIL in nation s first gas exchange. The Indian Gas Exchange is a subsidiary of the ....

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