IGX benchmark gas price Index falls 11% (YoY) in Oct 2025, first ssLNG trade executed at Hazira

New Delhi [India], November 6 : The Indian Gas Exchange (IGX) on Thursday reported that its benchmark gas price index, the Indian Gas Price Index (GIXI®), stood at Rs973 (equivalent to USD11 per MMBtu) for October 2025, marking a decline of 11 per cent year-on-year (YoY) and 6 per cent month-on-month (MoM) amid sluggish demand and softer international prices.

According to IGX press release, the downward trend was aligned with the global gas market, where European and Asian benchmarks, TTF at USD10.9/MMBtu and WIM-Ex Dahej at USD12/MMBtu, recorded declines of 1 per cent MoM and 16 per cent YoY.

In contrast, US Henry Hub prices rose 11 per cent MoM to USD3.4/MMBtu, up 29 per cent YoY.

IGX recorded monthly trade volumes of 3.1 million MMBtu (79 MMSCM), down 46 per cent from September, mainly due to a reduction in domestic gas supplies from the KG Basin and muted demand from the power sector.

Of the total traded volume, 49 per cent was free-market gas while 51 per cent comprised domestic HPHT gas sold at the ceiling price of USD9.72/MMBtu. Around 9 MMSCM of domestic gas with pricing freedom was traded by producers at Bokaro (CBM), KG, and Hazira-ONGC delivery points.

The month also saw the first small-scale LNG (ssLNG) trade executed at Hazira, with a total of 109 trades completed across various contracts. The Mhaskal delivery point was the most active for free-market gas, while Gadimoga led for ceiling-price trades.

Among contract types, Monthly and Weekly contracts each accounted for 38 trades, followed by Daily (16), Day-Ahead (11), Fortnightly (5), and Weekday (1). Exchange-traded deliveries totalled 4.5 million MMBtu (3.6 MMSCMD) during the month.

IGX currently facilitates delivery-based trading across seven spot contract types, which includes Intraday, Day-Ahead, Daily, Weekday, Weekly, Fortnightly, and Monthly along with two long-duration contracts of three and six months linked to key international benchmarks including GIXI®, JKM®, WIM®, and Dated Brent®.

The Indian Gas Exchange Limited (IGX) is India's authorised natural gas trading platform under the Petroleum and Natural Gas Regulatory Board (PNGRB). It provides a transparent and competitive marketplace for spot and forward gas trading across six regional hubs, enabling indigenous price discovery through its benchmark index GIXI®.

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