The Indian Gas Exchange (IGX) traded record 41,05,400 MMBtu (~103 MMSCM) gas volume in October 2022, registering 298% YoY growth from 10.30 LAC MMBtu traded in October’21 and 175% MoM growth over September 2022 volume of 14.91 LAC MMBtu. A total of 254 trades were executed, the highest in a single month.
During the month, the Exchange traded gas flows were 23,00,050 MMBtu (~58 MMSCM) volumes. The average gas price discovered at the Exchange during the month was Rs 1,858 /$22.65 per MMBtu almost 30% down over last month. Different spot gas benchmark prices of were – HH about $6/MMBtu and TTF at ~$39/MMBtu LNG benchmark indices were – WIM ~30 $/MMBtu.
The prices discovered at IGX for India’s inland gas demand and supply have been in line with the international benchmarks, where similar downtrend in prices of close to 30% was observed. At 22,80,750 MMBtu, IGX traded record domestic ceiling price gas at ceiling price of $12.46/MMBtu during the month. The Exchange witnessed participation from more than 50 buyers, comprising diverse sectors such as CGDs, Petrochemical, Power, Glass, Ceramics, Aluminum, Marketers etc. During the month, major stakeholders like Reliance Industries Limited and Vedanta Limited joined IGX as Proprietary Members, while BP Exploration (Alpha) Limited and Invenire Petrodyne Limited joined IGX as Clearing Members.