Gas volume trade on IGX dips 34% m-o-m in September

New Delhi: As demand from the power sector slowed down, gas volumes traded on the Indian Gas Exchange (IGX) went down by 34 percent in September on month-on-month basis. In September, IGX traded ~3.1 million MMBtu (~77 MMSCM) in gas volume. The all-India Plant Load Factor (PLF) of gas-based power stations stood at 14.01 percent in September as power demand scenario eased with extended monsoons across several parts of the country.

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“A total of 157 trades were executed in September’24. The most active delivery point for free market gas was Dahej and Gadimoga for Ceiling Price gas, other trading delivery points were- Mhaskal, KG Basin, Ankot, & Bokaro. Around 33 percent of the total volume was traded at Dahej delivery. GIXI – Dahej (Sep-24) was Rs 1,139 or USD13.6 / MMBtu higher by 7 percent MoM. WIM-Ex Dahej settled price for Sep-24 was also at similar level i.e. - USD13.5/MMBtu,” said a statement issued by IGX.

GIXI for Sept was 8% higher at USD13.7 per MMBtu: IGX

GIXI for September 2024 was Rs 1,147/USD13.7 per MMBtu, higher by 8 percent last month. GIXI- South was Rs 1,049/USD12.5 per MMBtu and GIXI-West Rs 1,151/USD13.7 per MMBtu. Different spot international gas benchmark prices recorded were (monthly average): HH at ~USD2.37/MMBtu (up by 13percent MoM), TTF at ~USD11.4 /MMBtu (down by 4percent MoM), whereas LNG benchmark indices were: WIM – Ex Dahej ~14.4 USD/MMBtu (down by 3 percent MoM).

1.73 million mmBtu of free market category gas traded on IGX in Sept

Around 1.73 Million MMBtu of free market category gas was traded during the month and about 1.4 million MMBTU domestic ceiling price gas was traded at ceiling price (Rs 828 or USD9.87/MMBtu) at KG Basin and Gadimoga delivery points. And about 0.15 million MMBtu domestic gas with complete pricing freedom was traded at Bokaro & KG Basin delivery points.

During the month, the exchange traded gas deliveries were 6.6 million MMBtu (~5.5 MMSCMD). The month witnessed first trade at Bokaro delivery point, at ONGC’s CBM gas-producing field connected to GAIL’s JHBDPL network in Jharkhand.

In Q2 of FY25, IGX’s total trade volume increased by 0.5 percent quarter-on-quarter to 11.8 million MMBtu. IGX currently offer 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 and 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 twelve consecutive months. During the month, 84 trades (maximum number) were executed in Daily, followed by 33 trades in Day-Ahead, 15 trades in Weekly, 13 trades in Fortnightly and 12 trades in Monthly contract, respectively.

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