Indian Gas Exchange kicked-off 2022 on a positive note, trading 17,63,100 MMBtu of gas volumes and delivering a record high 16,23,350 MMBtu in January. The average gas price discovered at the exchange during the month was ₹2,080, or $27.7, per MMBtu while average international spot gas price was at $35/MMBtu.
During the month, all international benchmarks such as TTF, JKM, WIM were close to their highs at about $35+ while price at the Henry Hub was $4.2/MMBtu. Price discovered at the exchange have been truly reflective of Indian demand and supply of natural gas and captured the LNG long-term, spot and domestic gas pricing well, IGX said.
IGX has been achieving consistent growth in terms of volumes. In Q3 2021, IGX recorded trade volumes of 3.6 million MMBtu. Cumulatively, 5 million MMBtu was traded through IGX during the year.