Indian Gas Exchange reports 50% jump in trading volume for July
The Indian Gas Exchange (IGX) traded approximately 103mn m3 of gas in July, marking a 50% year/year increase, IGX announced on August 6.
A total of 96 trades were executed on the exchange last month. The breakdown of trades includes 28 monthly contracts, 26 daily contracts, 19 weekly contracts, 16 day-ahead contracts, and 7 fortnightly contracts.
In July, the exchange facilitated gas deliveries totaling 2.9mn m3/day. Notably, the first trade in a small-scale LNG (ssLNG) contract was executed in a daily contract at the Dahej delivery point, and Gujarat State Electricity Corporation joined as a new proprietary member.
In April, IGX introduced ssLNG contracts on its platform following approval from the Petroleum and Natural Gas Regulatory Board (PNGRB). Initially, these contracts are available at the Dahej and Hazira LNG terminals in Gujarat, with plans to expand to other terminals, including Dhamra, Mundra, Ennore, Kochi, and on-land ssLNG stations at Vijaipur.
IGX has also received PNGRB's approval to add Jaya, Jharia, Kochi, and Chhara as new delivery points. IGX was established three years ago and currently facilitates delivery-based trades across six different contract types, including day-ahead, daily, weekday, weekly, fortnightly, and monthly contracts, allowing trades to be executed for up to six consecutive months.
Gas trade on IGX occurs at multiple delivery points, such as 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.