Gas traded volume down 80% YoY in March on IGX

Gas tred on IGX: Indian Gas Exchange (IGX) witnessed a notable downturn in gas tring activity, with volumes plummeting by 80 per cent compared to previous year. This downturn, primarily attributed to surging gas prices and an extended winter season, led to diminished demand for gas-based power generation. Despite this challenging environment, exchange managed to execute 65 tres, with daily contracts emerging as most popular choice among trers. Despite subdued tring volumes, gas deliveries on exchange amounted to nearly 2.34 MMSCMD, a recent release by India Gas Exchange stated. 

“ Indian Gas Exchange (IGX) tred 1.13 Million MMBtu (~28 MMSCM) gas volume in March’24, lower by 80 [er on YoY basis,” release stated. 

Key delivery points for free market gas included Dahej and KG Basin, highlighting significance of se locations in gas tring landscape. Or notable tring hubs included Ankot, Suvali, Mhaskal, and Bhbhut. 

Gas Index of India (GIXI) for March 2024 witnessed a decline, reflecting a market justment to prevailing conditions. Regional variations in gas prices were evident, with sourn and western regions recording slightly lower prices compared to national average. Spot gas benchmark prices such as HH and TTF were also closely monitored, indicating broer market trends.

Tring activity in Domestic Ceiling Price category of gas persisted, with significant volumes transacted below ceiling price at KG Basin delivery point.

Looking back at financial year 2024, while total tring volumes experienced a YoY decline of 20 per cent, attributed mainly to reduced sales by domestic gas producers, re was a notable surge in Free Market Gas tre, reaching a record high. Daily and Monthly contracts emerged as preferred choices among trers, reflecting ir aptability to market conditions.