The Hindu Business Line : NCDEX, GAIL in pact for natural gas spot trading

NATIONAL Commodity & Derivatives Exchange Ltd (NCDEX) and GAIL (India) Ltd on Tuesday signed a memorandum of understanding (MoU) that will enable both organisations to jointly work for the development of a spot market for natural gas in the country.

The MoU was formally signed by Mr P.H. Ravikumar, MD and CEO of NCDEX, and Dr U.D. Choubey, Director (Marketing), GAIL (India) Ltd.

NCDEX would make available an online trading platform to the users of GAIL to trade in spot contracts of natural gas, according to a release. NCDEX and GAIL have also agreed to jointly educate the stakeholders about the natural gas trading platform.

A core team will be formed to design the contracts, risk management processes and clearing and settlement mechanism in this regard. This team would work seamlessly with the users to promote natural gas trading, the release added.

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