Home / Industry / Energy /  IGX trades over 14.9 lakh mBtu gas in September

New Delhi: Indian Gas Exchange (IGX) on Tuesday said its platform traded 14,91,700 million British thermal unit (mBtu), or around 38 million standard cubic meters (mscm), gas volume in September, a whopping 414% jump over the year-ago period.

At 7,96,700 mBtu, IGX traded a record single-day domestic ceiling price gas at $12.46/mBtu during the month, said a statement from the exchange.

The exchange witnessed participation from more than 50 buyers from various sectors such as CGDs, petrochemical, Power, Glass, Ceramics, Aluminium, Marketers etc.

During the month, Ratnagiri Gas Power Plant, BHEL, Coromandel International, joined IGX as new clients.

“The average gas price discovered at the Exchange during September 2022 was 2,682 /$33.5 per MMBtu. Different spot gas benchmark prices were: HH about $8/MMBtu and TTF at ~$56/MMBtu; LNG benchmark indices were - WIM ~40 $/MMBtu and NW Europe DES ~$50/MMBtu. The prices discovered at IGX have been reflective of India’s inland gas demand and supply, including the RLNG long-term, spot, and domestic gas prices," Indian Energy Exchange (IEX) said in a statement.

“IGX Price Index (Western Hub) rose by 13% MoM due to increased prices in international markets, led by geo-political factors," it added.

IGX presently 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 the multiple delivery points such as: Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin covering 6 regional gas hubs namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, North Eastern Hub across India.

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