Mumbai, 09 October 2024: The Indian Gas Exchange (IGX) traded ~3.1 million MMBtu (~77 MMSCM) gas volume in September’24, lower by 34% on MoM basis.
A total of 157 trades were executed in September’24. The most active delivery point for free market gas was Dahej & Gadimoga for Ceiling Price gas, other trading delivery points were- Mhaskal, KG Basin, Ankot, & Bokaro. Around 33% of the total volume was traded at Dahej delivery. GIXI – Dahej (Sep-24) was ₹1139 or $13.6 / MMBtu higher by 7% MoM. WIM-Ex Dahej settled price for Sep-24 was also at similar level i.e. – $13.5/MMBtu.
GIXI for September 2024 was Rs 1147/$13.7 per MMBtu, higher by 8% last month. GIXI- South was Rs. 1049/$12.5 per MMBtu and GIXI-West Rs 1151/$13.7 per MMBtu. Different spot international gas benchmark prices recorded were (monthly average): HH at ~$2.37/MMBtu (up by 13% MoM), TTF at ~$11.4 /MMBtu (down by 4% MoM), whereas LNG benchmark indices were: WIM – Ex Dahej ~14.4 $/MMBtu (down by 3% MoM).
Around 1.73 Million MMBtu of free market category gas was traded during the month & about 1.4 million MMBTU domestic ceiling price gas was traded at ceiling price (₹828 or $9.87/MMBtu) at KG Basin & Gadimoga delivery points. And about 0.15 Millon 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, a ONGC’s CBM gas producing field connected to GAIL’s JHBDPL network in Jharkhand.
Q2FY25 Key Highlights:
- Total Trade Volume:11.8 million MMBtu (Increased by 0.5% QoQ)
- Domestic Ceiling Price Gas Trade Volume: 2.4 Million MMBtu
- Total number of trades executed: 348
- Most Active Delivery Point: Dahej (50% of total volume)
- Most Active Contract: Monthly
IGX currently offer trades at 15 delivery points. Out of which, 4 are LNG terminals, 3 are Pipeline Interconnection Points and 8 are domestic gas field land fall points & 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 &12 trades in Monthly contract respectively.
Note: The delivered volumes price excludes domestic ceiling price gas traded at ceiling price.