November 12, 2026: The scope of exchange-based trading in India’s gas market could expand, as Indian Gas Exchange has proposed launching LNG trading on its platform. The Petroleum and Natural Gas Regulatory Board has invited stakeholders to share their views and comments on the proposal by 2 December 2026.

According to a public notice dated 11 November 2026, the Petroleum and Natural Gas Regulatory Board received a letter from Indian Gas Exchange (IGX) proposing the introduction of LNG trading on the gas exchange platform. The notice states that IGX would act solely as a neutral trade facilitator under this arrangement, with no role in contracts, financial transactions, physical delivery, clearing, or settlement.

 

Under the proposal, LNG trading would be limited to the contracting parties. The arrangement would follow a Master Sale and Purchase Agreement (MSPA) mutually agreed between the parties or an Exchange MSPA.

PNGRB has said that comments and suggestions may be submitted within 21 days of the date the notice is issued, that is, by 2 December 2026. Stakeholders can email their views to secretary@pngrb.gov.in with the subject line “Views/Comments on introduction of LNG Trading on Gas Exchange Platform,” or submit them in writing to the Secretary, PNGRB, at its address in New Delhi.

The proposal could be a step towards bringing LNG onto an organised exchange platform within India’s gas trading framework. If it receives regulatory approval, it could provide market participants with a formal trading channel within the framework of bilateral agreements.

(Source: Traders Union)