Indian Gas Exchange (IGX) on Wednesday said its platform traded 88,64,550 million British thermal unit (mBtu), or around 223 million metric standard cubic meters (mmscm), gas volume in December, a whopping 382% jump over the year-ago period.
IGX recorded highest single day trade of 53,02,600 MMBtu, said a statement from the exchange. During the month, the exchange traded gas flows was 87,42,250 MMBtu (~7.1 MMSCMD) volumes which is around 4.5% of India’s gas consumption.
Exchange witnessed participation from more than 50 buyers from various sectors such as CGDs, petrochemical, power, glass, ceramics, aluminium, marketers etc. During the month, Matrix Gas and Renewables Private Limited and Central U.P. Gas Limited joined IGX as proprietary members.
“GIXI (IGX Gas Index) for December 2022 was ₹1,294 /$15.7 per MMBtu. Different spot gas benchmark prices recorded were, HH at ~$5.7/MMBtu, TTF at ~$36/MMBtu & NWE at ~$30/MMBtu, whereas LNG benchmark indices were: WIM ~30 $/MMBtu. The competitive prices discovered at IGX have been a true reflection of India’s gas demand and supply, including the LNG long-term, spot, and domestic gas prices,” Indian Energy Exchange (IEX) said in a statement.