IGX traded 14,48,300 MMBtu gas volume in January, with 45% decrease on MoM basis
New Delhi, Tuesday, 07th February 2024: The Indian Gas Exchange (IGX) traded 14,48,300 MMBtu (~36 MMSCM) gas volume in January, with 45% decrease on MoM basis.
A total of 127 trades were executed during the month. The maximum number of trades were executed in Daily contracts, 57 trades; followed by Monthly & Weekly contracts of 20 and 20 trades respectively.
The most active delivery point for free market gas was Hazira. Other trading delivery points were- Dahej, Ankot, Suvali, Mhaskal & KG Basin.
Read Also : IndusInd Bank announces successful execution of RBI’s programmable CBDC pilotDuring the month, the Exchange traded gas deliveries were 19,16,450 MMBtu (~1.6 MMSCMD).
GIXI (Gas Index of India) for January 2024 was Rs 1001/$12 per MMBtu, lower by 9% last month. GIXI- South was Rs. 879/$10.6 per MMBtu and GIXI-West Rs 1009/$12.1 per MMBtu. Different spot gas benchmark prices recorded were: HH at ~$2.7/MMBtu, TTF at ~$10 /MMBtu, whereas LNG benchmark indices were: WIM ~11 $/MMBtu.
IGX currently offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, under which the trade can be executed for six consecutive months.
Read Also : IndusInd Bank Q4 results,net profit up by 21 percentThe gas trade takes place at multiple delivery points, such as - Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, Suvali. It covers six regional gas hubs, namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.
Note: The delivered volumes price excludes domestic ceiling price gas traded at ceiling price.
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