New Delhi [India], November 6 : The Indian Gas Exchange (IGX) traded 8 million MMBtu (Metric Million British Thermal Unit), equivalent to 201 MMSCM of gas, in October this year, marking a 160 per cent increase on a month-on-month (MoM) basis, IGX announced on Wednesday.
Reduced APM gas allocations to the CGD sector, coupled with high global LNG prices, contributed to the increased trade volumes, IGX said in a release.
A total of 124 trades were executed in October 2024. The most active delivery point for free-market gas was Dahej, while KG Basin was the primary point for ceiling-price gas. Other trading delivery points included Hazira, Suvali, Mhaskal, Ankot, and Bokaro. Approximately 72 per cent of the total volume was traded at Dahej.
The GIXI for October 2024 was Rs 1,098 or USD 13 per MMBtu, down 4 per cent from the previous month. The GIXI-South index was Rs 986 or USD 11.7 per MMBtu, while GIXI-West stood at Rs 1,102 or USD 13.1 per MMBtu.
International spot gas benchmark prices for October recorded (monthly average) were: HH at USD 2.6/MMBtu, up 9 per cent MoM, and TTF at USD 12.9/MMBtu, up 13 per cent MoM. The LNG benchmark indices included WIM-Ex Dahej at USD 14.3/MMBtu, down 1 per cent MoM.
GIXI-Dahej for October 2024 was Rs 1,100 or USD 13/MMBtu, showing a 3.4 per cent decrease MoM. The WIM-Ex Dahej settled price for October 2024 was similarly priced at USD 13.6/MMBtu.
Around 7.8 million MMBtu of free-market category gas was traded during the month, with approximately 0.14 million MMBtu of domestic ceiling price gas traded at the ceiling price (Rs 854 or USD 10.16/MMBtu) at the KG Basin delivery point.
Additionally, about 0.2 million MMBtu of domestic gas with full pricing freedom was traded at Bokaro (CBM), Hazira (ONGC Hazira), and KG Basin delivery points.
In October, IGX facilitated gas deliveries totalling 6.1 million MMBtu (approximately 5 MMSCMD).
IGX currently offers trades at 15 delivery points, including four LNG terminals, three pipeline interconnection points, and eight domestic gas field landfall points. Delivery-based trades are available across six contracts: Day-Ahead, Daily, Weekday, Weekly, Fortnightly, and Monthly, with options for trade execution over twelve consecutive months.
In October, the highest number of trades (40) was executed in the Daily contract, followed by 29 trades each in the Fortnightly and Monthly contracts, 16 trades in the Weekly contract, 8 trades in Day-Ahead, and 2 trades in the Weekday contracts.
Indian Gas Exchange Limited (IGX), established in 2020, is India's first automated national-level gas exchange for the physical delivery of natural gas.
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