Indian Gas Exchange's traded volumes spike in August
The Indian Gas Exchange (IGX) traded 16,16,800mn Btu of gas in August 2022, up 456% year/year, it said on September 1.
During the month, the exchange delivered 25,95,400mn Btu of gas. A total of 202 trades were executed, the highest in a single month, IGX said. The exchange witnessed participation from more than 90 buyers from sectors such as city gas, petrochemical, power, glass, ceramics and steel.
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The IGX in early May received approval from the Indian downstream regulator Petroleum and Natural Gas Regulatory Board to trade domestic gas on its platform. It is planning to add more delivery hubs in India.
The exchange currently facilitates delivery-based trades in six different contracts such as day-ahead, daily, weekday, weekly, fortnightly and monthly at five different designated physical hubs - Dahej, Hazira, Dabhol, Jaigarh and KG Basin.