Indian Gas Exchange sees record trade in Oct

Indian Gas Exchange (IGX) on November 3 said it recorded its highest-ever monthly traded volume in October. 

It traded 10,30,150mn Btu of gas last month, up 257% month/month. IGX accomplished the highest single-day trade of 474,500mn Btu on October 26. During the month, the exchange delivered 308,000mn Btu of gas.

The average gas price discovered during the month was 1,387 rupees ($18.6)/mn Btu. Prices discovered for future months of November and December were 2,061 ($26.5)/mn Btu and 2,100/mn Btu respectively. The price was higher than in September due to increasing spot prices on international markets, IGX said.

Established in late 2020, IGX is India’s first automated national-level gas exchange for the physical delivery of natural gas. It offers trade in five contracts, including daily, weekly, weekday, fortnightly, and monthly delivery at five physical hubs.