Exploration & monetisation of natural gas will benefit Northeast: Indian Gas Exchange official

Exploration and monetization of natural gas deposits in the northeastern region can help cut down its import, while also boosting the local economy and providing more trade opportunities, a top official of the Indian Gas Exchange (IGX) said.

Rajesh K Mediratta, Managing Director and CEO of IGX, the country's first automated national level gas exchange, maintained that the region can supply the surplus gas not only to other parts of the country, but also to neighboring Bangladesh and earn significant revenue.

"The Northeast has tremendous potential in the production of natural gas. As the Northeast Gas Grid is likely to become operational by 2026, the deposit of 6 million MMSCMD of natural gas can be monetized by the existing producers," Mediratta said.