IGX trades 2.84 Million MMBtu in November 2023
The maximum number of trades were executed in Daily contract, 71 trades; followed by Weekly and day-ahead contracts of 44 and 9 trades respectively.
New Delhi, Monday, 5 December 2023: The Indian Gas Exchange (IGX) traded 28,48,750 MMBtu (~72 MMSCM/2.4 MMSCMD) gas volume in November 2023, with 2% MoM decrease.
A total of 141 trades were executed during the month. The maximum number of trades were executed in Daily contract, 71 trades; followed by Weekly and day-ahead contracts of 44 and 9 trades respectively.
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During the month, the Exchange traded gas flows were 79,38,200 MMBtu (~6.7 MMSCMD) due to significant trades matured in previous months.
GIXI (Gas Index of India) for November 2023 was Rs 1131/$13.5 per MMBtu, higher by 13% last month. GIXI- South was Rs. 829/$9.96 per MMBtu (capped due to Ceiling Price) and GIXI-West Rs 1131/$13.5 per MMBtu. Different spot gas benchmark prices recorded were: HH at ~$2.7/MMBtu, TTF at ~$14.5 /MMBtu, whereas LNG benchmark indices were: WIM ~16 $/MMBtu.
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A quick summary of the gas market during November’23 is as below:
· Total traded volume: 28,48,750 MMBtu
· Domestic ceiling price gas traded: 18,70,000 MMBtu
· Total no. of trades: 141
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. 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.
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