Indian Gas Exchange (IGX) on Wednesday said its platform traded 41,05,400 million British thermal unit (mBtu), or around 38 million standard cubic meters (mscm), gas volumes in October, a whopping 298% jump on year. A total of 254 trades were executed, the highest in a single month
At 22,48,550 mBtu, IGX traded a record single-day domestic ceiling price gas at $12.46/mBtu during the month, said a statement from the exchange.
The exchange witnessed participation from more than 50 buyers from various sectors such as CGDs, petrochemical, Power, Glass, Ceramics, Aluminium, Marketers etc.
During the month, major stakeholders such as Reliance Industries Limited and Vedanta Limited joined IGX as Proprietary Members, while BP Exploration (Alpha) Limited and Invenire Petrodyne Limited joined IGX as Clearing Members.
“The average gas price discovered at the Exchange during the month was ₹1,858 /$22.65 per MMBtu almost 30% down over last month. Different spot gas benchmark prices of were – HH about $6/MMBtu and TTF at ~$39/MMBtu LNG benchmark indices were – WIM ~30 $/MMBtu,“ Indian Energy Exchange (IEX) said in a statement.
“ The prices discovered at IGX for India’s inland gas demand and supply have been in line with the international benchmarks, where similar downtrend in prices of close to 30% was observed,“ it added.