Gas traded volume down 80% YoY in March on IGX

Gas traded on IGX: The Indian Gas Exchange (IGX) witnessed a notable downturn in gas trading activity, with volumes plummeting by 80 per cent compared to the 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, the exchange managed to execute 65 trades, with daily contracts emerging as the most popular choice among traders. Despite the subdued trading volumes, gas deliveries on the exchange amounted to nearly 2.34 MMSCMD, a recent release by India Gas Exchange stated. “The Indian Gas Exchange (IGX) traded 1.13 Million MMBtu (~28 MMSCM) gas volume in March’24, lower by 80 [er on YoY basis,” the release stated. Key delivery points for free market gas included Dahej and the KG Basin, highlighting the significance of these locations in the gas trading landscape. Other notable trading hubs included Ankot, Suvali, Mhaskal, and Bhadbhut. The Gas Index of India (GIXI) for March 2024 witnessed a decline, reflecting a market adjustment to prevailing conditions. Regional variations in gas prices were evident, with the southern and western regions recording slightly lower prices compared to the national average. Spot gas benchmark prices such as HH and TTF were also closely monitored, indicating broader market trends.Trading activity in the Domestic Ceiling Price category of gas persisted, with significant volumes transacted below the ceiling price at the KG Basin delivery point.Looking back at the financial year 2024, while total trading volumes experienced a YoY decline of 20 per cent, attributed mainly to reduced sales by domestic gas producers, there was a notable surge in Free Market Gas trade, reaching a record high. Daily and Monthly contracts emerged as the preferred choices among traders, reflecting their adaptability to market conditions.

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Gas traded volume down 80% YoY in March on IGX

The Indian Gas Exchange (IGX) traded 1.13 Million MMBtu (~28 MMSCM) gas volume in March’24, lower by 80 [er on YoY basis

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