State-run Hindustan Petroleum Corporation (HPCL) on Wednesday signed a memorandum of understanding (MoU) with Indian Gas Exchange (IGX) to collaborate on expanding India’s natural gas market.
The MoU was signed on the sidelines of India Energy Week (IEW) 2025.
Under this strategic partnership, IGX and HPCL will jointly work towards creation of liquid and tradeable market at the Chhara delivery point on IGX’s gas trading platform across its various products like Regular spot Contracts, ssLNG Contracts, Power Contracts and the recently introduced index based Long Duration Contracts.
This MoU also outlines joint efforts to ensure the efficient utilisation of infrastructure and promote the resurgence of gas-based power generation.
This initiative aims to foster a competitive market environment, enhancing liquidity in the gas market and, in the long run, increasing gas consumption in the country.
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Both organisations will continuously identify new areas of cooperation to support India’s transition towards a more vibrant and competitive gas-based economy.
Notably, HPCL has recently commissioned its 5 million tonnes per annum (MTPA) liquefied natural gas (LNG) regasification terminal at Chhara, Gujarat, which is designed to offer both flexibility and scalability, making it a key asset in India’s energy landscape.
The terminal will play a key role in strengthening India’s sustainable energy future. It supports GoI’s plan to boost natural gas usage in the country. Through this partnership, both IGX and HPCL will actively work towards achieving the maximum utilisation of Chhara RLNG terminal’s regasification capacity.
Rajesh Kumar Mediratta, MD & CEO of IGX, said, “By leveraging IGX’s expertise in exchange-based gas trading and HPCL’s infrastructure capabilities across the oil & gas value chain, we are confident that this collaboration will strengthen market participation and drive efficiency in the gas value chain.”
Anuj Mehrotra, Executive Director Natural Gas (I/C) at HPCL said, “This collaboration with IGX is a step forward in enhancing liquidity in the Indian gas market. By creating a competitive and transparent trading environment, we aim to drive greater adoption of natural gas and contribute to India’s vision of a gas-based economy.”
