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Business News/ Industry / Energy/  IGX trades over 88.6 lakh mBtu gas in December, up 382% YoY
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IGX trades over 88.6 lakh mBtu gas in December, up 382% YoY

During the month, Matrix Gas and Renewables Private Limited and Central U.P. Gas Limited joined IGX as proprietary members

The exchange witnessed participation from more than 50 buyers from various sectors such as CGDs, petrochemical, power, glass, ceramics, aluminium, marketersPremium
The exchange witnessed participation from more than 50 buyers from various sectors such as CGDs, petrochemical, power, glass, ceramics, aluminium, marketers

New Delhi: Indian Gas Exchange (IGX) on Wednesday said its platform traded 88,64,550 million British thermal unit (mBtu), or around 223 million metric standard cubic meters (mmscm), gas volume in December, a whopping 382% jump over the year-ago period.

IGX recorded highest single day trade of 53,02,600 MMBtu, said a statement from the exchange.

During the month, the exchange traded gas flows was 87,42,250 MMBtu (~7.1 MMSCMD) volumes which is around 4.5% of India’s gas consumption.

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, Matrix Gas and Renewables Private Limited and Central U.P. Gas Limited joined IGX as proprietary members.

“GIXI (IGX Gas Index) for December 2022 was 1,294 /$15.7 per MMBtu. Different spot gas benchmark prices recorded were, HH at ~$5.7/MMBtu, TTF at ~$36/MMBtu & NWE at ~$30/MMBtu, whereas LNG benchmark indices were: WIM ~30 $/MMBtu. The competitive prices discovered at IGX have been a true reflection of India’s gas demand and supply, including the LNG long-term, spot, and domestic gas prices," Indian Energy Exchange (IEX) said in a statement.

“IGX traded 56,62,850 MMBtu of domestic ceiling price gas at the ceiling price of $12.46/MMBtu during the month," 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, Gadimoga, Suvali 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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Updated: 04 Jan 2023, 05:55 PM IST
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