IGX trading volume sees 50 percent YoY growth in July 2024

During the month, the Exchange traded gas deliveries were 3.5 million MMBtu (~2.9 MMSCMD). GIXI (Gas Index of India) for July 2024 was ₹1,114/$13.2 per MMBtu, higher by 4 percent last month. GIXISouth was ₹ 936/$11.2 per MMBtu and GIXI-West ₹ 1,119/$13.3 per MMBtu. 

The Indian Gas Exchange (IGX) traded 4.1 million MMBtu (~103 MMSCM) gas volume in July’24, higher by 50 percent on a YoY basis. A total of 96 trades were executed in July’24. During the month, 28 trades (maximum number) were executed in Monthly contracts, followed by 26 trades in Daily contracts, 19 trades in Weekly contracts, 16 trades in Day-Ahead contracts & 7 trades in Fortnightly contracts respectively. 

The most active delivery point for free market gas was Mhaskal & Gadimoga for Ceiling Price gas, other trading delivery points were Dahej, KG Basin, Hazira, Suvali & Bhadbhut. During the month, the Exchange traded gas deliveries were 3.5 million MMBtu (~2.9 MMSCMD). GIXI (Gas Index of India) for July 2024 was ₹1,114/$13.2 per MMBtu, higher by 4 percent last month. GIXISouth was ₹ 936/$11.2 per MMBtu and GIXI-West ₹ 1,119/$13.3 per MMBtu. Different spot international gas benchmark prices recorded were: HH at ~$2.2/MMBtu (down by 20 percent MoM), TTF at ~$10.3 /MMBtu (down by 5 percent MoM), whereas LNG benchmark indices were: WIM ~13 $/MMBtu (up by 8percent MoM). The total Domestic ceiling price category gas traded during the month was 0.6 million MMBtu at ceiling price (₹825/MMBtu) at KG Basin & Gadimoga delivery points. 

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The first trade-in ssLNG contract was executed in Daily contract at Dahej delivery point & Gujarat State Electricity Corporation Limited (GSECL) joined as a new proprietary member. Additionally, IGX received approval from PNGRB to add Jaya, Jharia, Kochi & Chhara as new delivery points. 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 occurs at multiple delivery points, such as – Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, and Suvali. It covers six regional gas hubs, namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.