New Delhi: India's gas price index, Gas IndeX of India (GIXI), for May was Rs 1,016 (USD 11.9) per million British per unit, up 19 percent year-on-year in line with higher European and Asian spot international gas benchmarks.
GIXI month-on-month was lower by 5 percent due to lower demand and higher supplies, IGX said in a statement.
"Most of the marketers had high inventories for expected demand from the power sector. Expected gas demand from the power sector didn't turn up due to early monsoon and consequent lower peak demand of 231 GW against expected 260 GW+," Indian Gas Exchange Limited (IGX) showed.
IGX trade volume also dropped 5 percent year-on-year to 4.7 million mmBtu (118 million standard cubic metres) due to lower demand from the power sector. Around 80 percent of traded volumes were free market gas and 20 percent domestic high-pressure high temperature (HPHT) gas at a ceiling price (Rs 861 or USD 10.04 per mmBtu). Around 7.5 mmscmd gas, having pricing freedom at Bokaro (CBM), KG Basin and ONGC Hazira delivery points.
"A total of 140 trades were executed in May 2025. The most active delivery points for free market gas were Chhara and Mallavaram for ceiling price gas. Other active delivery points were - Dahej, Mhaskal, KG Basin, Bokaro, Bhadbhut, Hazira, Dabhol and Ankot," it said.
Exchange-managed deliveries were 7.9 million mmBtu (6.4 million standard cubic meters per day) during the month.
"Shapoorji Pallonji Energy Private Limited joined as a new proprietary member during the month, bringing the total number of registered members to 50," it added.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)