Indian Gas Exchange reports 80% drop in trading volume in March
The Indian Gas Exchange (IGX) traded approximately 28mn m3 of gas in March, down 80% year/year, it announced on April 5. This downturn was attributed to higher prices and reduced demand for gas-based power generation.
In March, IGX executed a total of 65 trades, with the majority occurring in daily contracts (23 trades), followed by fortnightly and monthly contracts with 15 and 14 trades, respectively. Gas deliveries traded on IGX averaged around 2.34mn m3/day during the month.
For the fiscal year 2023-2024, IGX recorded a 20% year/year decrease in total traded volume, primarily influenced by a decline in sales by domestic gas producers.
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.