New Delhi: Gas volumes traded on the Indian Gas Exchange (IGX) in October has witnessed a decline on both month-on-month and year-on-year basis. “The Indian Gas Exchange (IGX) traded 28,98,950 MMBtu (~73 MMSCM/2.4 MMSCMD) gas volume in October 2023, with 46 percent decrease MoM and 29 percent YoY decrease,” said the IGX in a statement on November 6. A total of 46 trades were executed during the month. The maximum number of trades took place in the monthly contract segment — 14 — followed by daily and weekly contracts at 12 and 10 trades, respectively.
“The most active delivery point for free market gas was Ankot and domestic ceiling price gas was traded at Gadimoga. Other trading delivery points were- Dahej, Hazira, Bhadbhut, Mhaskal & Suvali,” said the IGX.
During the month, the exchange traded gas flows were 58,33,250 MMBtu (~4.7 MMSCMD). GIXI (Gas Index of India) for October was Rs 1,012/$12.2 per MMBtu, higher by 7 percent last month. GIXI- South was Rs 829/$9.96 per MMBtu (Ceiling Price) and GIXI-West was Rs 1,012/$12.2 per MMBtu. Different spot gas benchmark prices recorded were: HH at ~$3/MMBtu, TTF at ~$14.5 /MMBtu, whereas LNG benchmark indices were: WIM ~16 $/MMBtu. IGX traded a total of 3,20,000 MMBtu domestic ceiling price gas during the month.
Also, Eastern Power Distribution Company of Andhra Pradesh Limited joined IGX as Proprietary Member.
IGX currently offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, under which the trade can be executed for six consecutive months. The gas trade takes place at multiple delivery points, such as - Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, Suvali. It covers six regional gas hubs, namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.