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    Indian Gas Exchange trades record volumes in November

Summary

The traded volumes were up 1,359% year/year.

by: Shardul Sharma

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Complimentary, Natural Gas & LNG News, Asia/Oceania, Security of Supply, Corporate, News By Country, India

Indian Gas Exchange trades record volumes in November

The Indian Gas Exchange (IGX) traded a record 1,14,53,200mn Btu (about 290mn m3) gas volumes in November, up 1,359% year/year, it said on December 5. The trade volumes were up 179% month/month.

The exchange executed a total of 336 trades, the highest ever achieved in a single month. The maximum number of trades executed in daily contracts was 127, followed by fortnightly and monthly contracts of 108 and 62 trades, respectively. The volume traded in November 2022 was about 94% of the total volume traded in the last fiscal year that ended on March 31, 2022.

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 takes place at multiple delivery points, such as - Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, Suvali. It covers six regional gas hubs, namely, western hub, southern hub, eastern hub, central hub, northern hub, and north eastern hub across India.