New Delhi: Decreased APM gas allocations to the City Gas Distribution (CGD) sector and high global Liquefied Natural Gas (LNG) prices pushed up trade volumes at the Indian Gas Exchange (IGX) in October as it traded 8 million MMBtu (201 MMSCM) of gas volumes. This was higher by 160 percent on month-on-month basis. Around 7.8 Million MMBtu of free market category gas was traded during the month and about 0.14 million MMBTU of domestic ceiling price gas was traded at the ceiling price (Rs 854 or USD 10.16/MMBtu) at KG Basin delivery point. About 0.2 Millon MMBtu domestic gas with complete pricing freedom was traded at Bokaro (CBM), Hazira (ONGC Hazira) and KG Basin delivery points. During the month, IGX-traded gas deliveries were 6.1 million MMBtu (~5 MMSCMD).
GIXI for October was Rs 1,098/USD 13 per MMBtu, lower by 4 percent last month. GIXI- South was Rs 986/USD 11.7 per MMBtu and GIXI-West Rs 1102/USD 13.1 per MMBtu. Different spot international gas benchmark prices recorded were (monthly average): HH at ~USD 2.6/MMBtu (up by 9 percent month-on-month), TTF at USD 12.9 /MMBtu (up by 13 percent month-on-month), whereas LNG benchmark indices were: WIM – Ex Dahej ~14.3 USD/MMBtu (down by 1 percent month-on-month).
A total of 124 trades were executed in October. The most active delivery point for free market gas was Dahej and KG Basin for Ceiling Price gas, other trading delivery points were- Hazira, Suvali, Mhaskal, Ankot, and Bokaro. Around 72 percent of the total volume was traded at Dahej delivery. GIXI – Dahej (Oct-24) was Rs 1,100 or USD 13/MMBtu, lower by 3.4 percent month-on-month. WIM-Ex Dahej settled price for October was also at similar level: USD 13.6/MMBtu.
IGX currently offers trades at 15 delivery points. Out of which, four are LNG terminals, three are Pipeline Interconnection Points and eight are domestic gas field land fall points. It offers delivery-based trade in six different contracts: Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, under which the trade can be executed for twelve consecutive months. During the month, 40 trades (maximum number) were executed in Daily, followed by 29 trades in each Fortnightly & Monthly, 16 trades in Weekly, 8 trades in Day-Ahead and 2 trades in Weekday contract, respectively.
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