IGX Benchmark GIXI® Rises 3% in February Amid Global Market Uptrend
New Delhi, Friday, March 06, 2026: Indian Gas Exchange’s benchmark price index, GIXI®, for February 2026 was ₹992/$10.9 per MMBtu—up by 3% MoM & down by 11% YoY. Prices trended upward MoM basis in line with International prices due to geopolitical reasons & extended winters in Europe, with European and Asian spot gas benchmarks monthly average as follows: TTF at $13.6/MMBtu (up by 4% MoM, down by 20% YoY), WIM-Ex Dahej at $11.9/MMBtu (up by 4% MoM & down by 27% YoY), while US Henry Hub trended downwards and averaged at $3.6/MMBtu (down by 12% MoM, by 2% YoY).
GIXI®-West was ₹999/$11 per MMBtu, similar to GIXI®-All India, whereas GIXI®-East and GIXI®-South were lower by 6% and 8% respectively due to transmission and tax differentials. GIXI®-Dahej for February 2026 was ₹1,016/$11.2 per MMBtu, 6% up compared to previous month. GIXI®-Dahej traded at 7% premium price compared to the WIM-Ex Dahej settled price for February 2026.
In February’26, IGX achieved monthly trade gas volume of 5.4 million MMBtu (136 MMSCM), volume down by 36% MoM & 31% YoY basis, the decline in volume was primarily due to reduction in domestic HPHT gas trade volumes and spot purchase from CGDs amid price correction in Henry Hub linked long term contracts. Around 89% of the traded volume was free-market gas, while 11% was domestic HPHT gas at the ceiling price (₹882 or $9.72/MMBtu). Nearly 5 MMSCM of domestic gas with pricing freedom was traded by producers at Bokaro (CBM), Jaya, KG Basin, and Hazira-ONGC delivery points.
A total of 79 trades were executed in February 2026. The most active delivery point for free-market gas was Dahej, while Mallavaram was the most active for ceiling-price gas. Other active delivery points included Mhaskal, Jaya, Bokaro, Bhadbhut, KG Basin and Hazira-ONGC. During the month, 31 trades were executed in Monthly contracts, followed by 15 trades in Daily, 14 trades in Fortnightly, 9 trades in Day-Ahead, 4 trades in BoM, 4 trades in Weekly contract & 2 trades in LDC 3 Month contracts. And ssLNG contracts witnessed 1 trade.
Exchange traded deliveries were 4.9 million MMBtu (~4.4 MMSCMD) during the month.
IGX offers delivery-based trade in eight different spot contracts such as Intraday, Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly (upto 12 months), Balance of Month & two Long Duration Contracts - 3 Months and 6 Months linked to Benchmarks: GIXI®, JKM®, WIM® & Dated Brent®.