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Gas Market Update, February 2024

Mumbai, Tuesday, 06th March 2024: The Indian Gas Exchange (IGX) traded 6,136,850 MMBtu (~155 MMSCM) gas volume in February, with 324% MoM increase and 17% YoY increase.

In February 2024, IGX traded record 4.74 Million MMBtu (120 MMSCM) of monthly R-LNG volumes.

A total of 101 trades were executed during the month. The maximum number of trades were executed in Monthly contract, 62 trades; followed by Weekly & Fortnightly contracts of 20 and 10 trades respectively.

The most active delivery point for free market gas was Hazira. This was the first month when Hazira became most active delivery point. Other trading delivery points were- Dabhol, Gadimoga, Dahej, Ankot, Suvali, Mhaskal & KG Basin.

During the month, the Exchange traded gas deliveries were 11,06,000 MMBtu (~1 MMSCMD).

IGX currently offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, under which the trade can be executed for six consecutive months.


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