New Delhi: The Indian Gas Exchange (IGX) traded 14,48,300 MMBtu (~36 MMSCM) gas volume in January, with 45 percent decrease on month-on-month (MoM) basis.
A total of 127 trades were executed during the month. The maximum number of trades were executed in daily contract, 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.
During 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.
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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