Indian Gas Exchange reports 17% jump in February gas trading
The Indian Gas Exchange (IGX) in February traded approximately 155mn m3 of gas, up 17% year/year and 324% month/month, it announced on March 5.
The platform recorded an all-time high of 120mn m3 in monthly regasified LNG volumes. A total of 101 trades were executed during the month.
IGX currently offers delivery-based trade in six different contracts such as day-ahead, daily, weekday, weekly, fortnightly and monthly, under which the trade can be executed for six consecutive months.
The gas trade on IGX spans multiple delivery points, including Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, and Suvali. Covering six regional gas hubs—western, southern, eastern, central, northern, and north-eastern hubs—the exchange plays a role in facilitating transactions across India.
IGX CEO Rajesh Kumar Mediratta recently told GasPathways that he expects a continued upward trajectory of trading volumes in 2024. In 2023, IGX reported a 16% year/year growth in the total volumes of gas traded on the platform.