IGX traded 7.2 million MMBtu gas volume, higher by 26% on MoM & 398% YoY basis
During the month, the Exchange traded deliveries were 7.5 million MMBtu (~6.1 MMSCMD), a record monthly delivery volume for the year.
Mumbai, Thursday, 06 February 2025: Gas IndeX of India (GIXI) for January 2025 was Rs 1213/$14.1 per MMBtu, almost flat on MoM basis but up by 21% YoY basis. GIXI-West Rs 1223/$14.2 per MMBtu, GIXI- South was Rs. 1130/$13.1 per MMBtu & GIXI-East was Rs. 1091/$12.6 per MMBtu. US & European spot international gas benchmark prices were higher compared to last month: HH at $3.8/MMBtu (12% up MoM), TTF at $14.47 /MMBtu (5% up MoM). However, East-Asian LNG benchmark WIM were flat at 15.2 $/MMBtu – ex Dahej due to stagnant demand. The European & US gas price rose due to supply concern in international markets amid winters & lower storage levels.
During the month IGX traded 7.2 million MMBtu (182 MMSCM) gas volume, higher by 26% on MoM & 398% YoY basis. Higher sale from domestic gas producers added to growth in IGX volumes.
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A total of 177 trades were executed in January’25. First ever Intraday trade was executed during the month. The most active delivery point for free market gas was Mhaskal & Gadimoga for Ceiling Price gas due to higher sales from domestic gas producers. Other active delivery points were- Dahej, KG Basin, Bokaro, Jaya, Mallavaram, Hazira, Ankot & Bhadbhut. Around 23% of the free market volume was traded at Dahej delivery. GIXI – Dahej (Jan-25) was ?1230 or $14.3 / MMBtu, almost flat MoM. GIX-Dahej was at discount of $1.6/MMBtu i.e. 11% compared to WIM-Ex Dahej settled price for Jan-25.
Around 33% of trade volume as free market gas & 67% domestic gas HPHT gas at ceiling price (?877 or $10.16/MMBtu) and 0.34 Millon MMBtu pricing freedom at Bokaro (CBM), Jaya, & ONGC Hazira delivery points.
During the month, the Exchange traded deliveries were 7.5 million MMBtu (~6.1 MMSCMD), a record monthly delivery volume for the year.
Read Also : CleanMax signs PPA with Amazon for 100 MW renewable energy project in KarnatakaIGX currently offer trades at 16 delivery points. Out of which, 5 are LNG terminals, 3 are Pipeline Interconnection Points and 8 are domestic gas field land fall points & offers delivery-based trade in seven different contracts such as Intraday, Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, 3 Months & 6 Months, under which the trade can be executed for twelve consecutive months. During the month, 64 trades (maximum number) were executed in Monthly, followed by 39 trades in Weekly, 29 trades in Daily, 24 trades in Day Ahead, 20 trades in Fortnightly & 1 trade in Intraday contract respectively.
Note: The delivered volumes price excludes domestic ceiling price gas traded at ceiling price.
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