Gas pricing up in the air: 2023 to see new trading products from exchanges

New trading products could be the start of India's attempt to create a domestic price benchmark and derivatives contract market, and the tapering of the administered price regime

The year 2023 could prove to be a watershed for India’s gas industry in one of two ways. It could be the year when Prime Minister Narendra Modi’s government prompts the country’s gas consumers to move towards market-based trading platforms or it could be a period when price caps dictate the country’s gas future. Either decision will have an impact on the energy security of the world’s third-largest energy consumer.

The year will see new products from exchanges like the National Stock Exchange (NSE), the Indian Energy Exchange (IEX) and the Indian Gas Exchange (IGX) offering consumers and investors a