BackIGX traded gas volumes at over 1.62 mmBtu in June
Volumes were up 91% sequentially due to increase in spot buying interest from buyers amid correction in global gas prices.
PremiumNew Delhi: Indian Gas Exchange (IGX) on Wednesday said its platform traded 16,22,100 million British thermal unit (mBtu), or around 41 million metric standard cubic meters (mmscm), of gas volumes in June. Volumes were up 91% sequentially due to increase in spot buying interest from buyers amid correction in global gas prices.
At 6,66,500 mmBtu, IGX traded a record single-day domestic ceiling price gas at $10.6/mmBtu during the month, it added.
According to the company, a total of 47 trades were executed during the month. The maximum number of trades executed in Monthly contracts was 15, followed by Daily & weekly contracts of 12 and 11 trades respectively.
The most active delivery point for free market gas was Dahej and domestic ceiling price gas was traded at Gadimoga. Other trading delivery points were- Mhaskal, Hazira, Suvali, and Ankot.
“GIXI (Gas Index of India) for June 2023 was ₹879 /$10.6 per MMBtu, lower by 7% last month. Different spot gas benchmark prices recorded were: HH at $2.4/MMBtu, TTF at $10 /MMBtu, whereas LNG benchmark indices were: WIM 11.5 $/MMBtu,“ reads a statement.
“IGX traded a total of 666,500 MMBtu domestic ceiling price gas at below ceiling price at Rs. 860 (volume weighted average price) during the month, complying with MoPNG notification dated 13.01.2023. Priority sector allocation in Ceiling Price gas were, CGD (CNG + PNG) – 6% and others (CGD (I&C), Marketers) – 94%,“ 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. 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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