IGX sees three times jump in gas volume trade in Oct

New Delhi: The Indian Gas Exchange (IGX) traded 8 million MMBtu of gas volume in October, nearly triple as compared to the previous month, the exchange said in a statement.

Decreased administered gas allocations to the city gas sector and high global LNG prices contributed to increased trade volumes, it said.

The Gas Index of India (GIXI) for October 2024 was Rs 1,098 (USD 13) per million British thermal unit (MMBtu), lower by 4 per cent from last month. GIXI-South was Rs 986 (USD 11.7) per MMBtu and GIXI-West Rs 1,102 (USD 13.1) per MMBtu. Different spot international gas benchmark prices were recorded in October.

"A total of 124 trades were executed in October 2024. The most active delivery point for free market gas was Dahej and KG Basin for ceiling price gas, other trading delivery points were - Hazira, Suvali, Mhaskal, Ankot, and Bokaro," the statement said. Around 72 per cent of the total volume was traded at Dahej delivery.

GIXI – Dahej (October 24) was Rs 1,100 or USD 13 per MMBtu, lower by 3.4 per cent month-on-month. West India Marker (WIM)-ex Dahej settled price for October was also at similar level - USD 13.6 per MMBtu. Around 7.8 million MMBtu of free market category gas was traded during the month and about 0.14 million MMBtu domestic ceiling price gas was traded at ceiling price (Rs 854 or USD 10.16 per MMBtu) at KG Basin delivery point.