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 IEX - India s premier nationwide, automated electricity trading platform. 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. It, however, did not give the value of the deal.
Oil Secretary said a record-breaking eight crore free LPG connections were provided to poor women households in just four years alongside the aggressive rollout of cooking gas, taking the number of LPG users in the country to about 29 crore.
The NDR was launched in 2017 to assimilate, preserve and upkeep the country s vast sedimentary data for future use in oil and gas exploration and production.