New Delhi, May 23: Oil and Natural Gas Corporation (ONGC) on Monday started trading on the Indian Gas Exchange. With this, ONGC has become the first Exploration and Production (E&P) company in India to trade domestic gas on the Indian Gas Exchange.

The first online trade was made on 23 May 2022 by ONGC Director (Onshore) In-charge Marketing Anurag Sharma on India's first automated national level Gas Exchange, IGX. The gas traded is from ONGC Krishna Godavari 98/2 block, the Ministry of Petroleum & Natural Gas said in a statement.

After the deregulation of the gas pricing ecosystem in 2000-21, ONGC has prepared itself to reap the benefits. The quantity sold by ONGC through the Gas Exchange will be enhanced slowly, it added.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)