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

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

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.

Read Also : NSE Nifty Next 50 to be launched today

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.

Read Also : DRDO develops Lightest Bullet Proof Jacket for protection against highest threat Level 6 of BIS

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.

Read Also : Power Secretary, and CMD, PFC Parminder Chopra convened at PFC Pod during WEC in Rotterdam