IGX traded 6,136,850 MMBtu gas volume in February 2024

New Delhi: The Indian Gas Exchange (IGX) traded 6,136,850 MMBtu (~155 MMSCM) gas volume in February, with 324% MoM increase and 17% YoY increase.

In February 2024, IGX traded a record 4.74 Million MMBtu (120 MMSCM) of monthly R-LNG volumes.

A total of 101 trades were executed during the month. The maximum number of trades were executed in Monthly contract, 62 trades; followed by Weekly & Fortnightly contracts of 20 and 10 trades respectively.

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The most active delivery point for free market gas was Hazira. This was the first month when Hazira became most active delivery point. Other trading delivery points were- Dabhol, Gadimoga, Dahej, Ankot, Suvali, Mhaskal & KG Basin.

During the month, the Exchange traded gas deliveries were 11,06,000 MMBtu (~1 MMSCMD).

GIXI (Gas Index of India) for February 2024 was Rs 888/$10.7 per MMBtu, lower by 11% last month. GIXI- South was Rs. 798/$9.6 per MMBtu and GIXI-West Rs 891/$10.7 per MMBtu. Different spot gas benchmark prices recorded were: HH at ~$2/MMBtu, TTF at ~$8.1 /MMBtu, whereas LNG benchmark indices were: WIM ~9.1 $/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.

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The 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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