IGX Gas Trading Volume Doubles, Benchmark Price Rises 107%

The Indian Gas Exchange (IGX) reported a significant increase in gas trading volume and benchmark price in August. The exchange traded 12.63 million MMBtu of gas during August, up 102.85% from the same month last year and 8.57% from July.

The benchmark gas price index, GIXI, stood at Rs 2,102 per MMBtu in August, rising 107.30% from a year earlier and 14.43% from the previous month. The exchange did not specify the reasons behind the sharp year-on-year rise in the benchmark gas price.

The majority of the traded volume was domestic high-pressure, high-temperature (HPHT) gas, which was procured by city gas distribution companies for domestic piped natural gas and transport compressed natural gas demand. The exchange also reported that nearly 40.09 MMSCM of domestic gas with pricing freedom was traded by private sector producers.