Indian Gas Exchange reports 170% jump in trade volume for June

The Indian Gas Exchange (IGX) traded approximately 110mn m³ of gas in June, an increase of 169% year/year, the exchange announced on July 3. The high trade volume was primarily due to increased gas demand from gas-based power plants amid hot weather.

A total of 79 trades were executed last month. Of these, 36 trades were in monthly contracts, 24 trades in fortnightly contracts, 17 trades in weekly contracts, and two trades in daily contracts. In June, the exchange-traded gas deliveries amounted to about 5.3mn m³/day.

IGX currently offers delivery-based trade in six different contracts: day-ahead, daily, weekday, weekly, fortnightly, and monthly. The gas trade on IGX encompasses multiple delivery points across India, including Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, and Suvali.

It covers six regional gas hubs: Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.

IGX recently launched small-scale LNG (ssLNG) contracts on its platform. It expects ssLNG contracts to help expand the gas market beyond traditional in-pipeline gas trading, IGX CEO Rajesh Kumar Mediratta told NGW.