IGX records 15.9 Million MMBtu gas trade volume in April 2025

Gas Price Index was higher by 40 percent YoY and lower by 13 percent MoM at ₹1,057 /$12.4/MMBTU for the same period.

India’s gas price index, Gas IndeX of India (GIXI) for April 2025 was ₹1,057/$12.4 per MMBtu, up by 40 percent YoY & down by 13 percent MoM basis, the price shown downward trend due to increase in LNG supplies in international market and availability of domestic gas in Indian market. The European & Asian spot international gas benchmark were also high YoY basis but showed downward trend when compared to previous month: TTF averaged at $11.6 /MMBtu (27 percent up YoY, 13 percent down MoM), WIM were 16 percent up YoY and 12 percent down MoM averaged at 12.52 $/MMBtu – ex Dahej & US gas price benchmark HH were at $3.45/MMBtu (94 percent up YoY & 16 percent down MoM).

During April 2025 IGX traded record monthly gas volume of 15.9 million MMBtu (400 MMSCM), an increase of 540 percent on a year-on-year basis and 205 percent on month-on-month basis. Around 16 percent of traded volumes were free market gas and 84 percent domestic HPHT gas at ceiling price (₹861 or $10.04/MMBtu) and 0.75 Millon MMBtu gas having pricing freedom at Bokaro (CBM), KG Basin & ONGC Hazira delivery points. 

A total of 290 trades were executed in April’25. The most active delivery point for free market gas was Dahej and Gadimoga for Ceiling Price gas due to higher sales from domestic gas producers. Other active delivery points were- Mhaskal, KG Basin, Bokaro, Mallavaram, Hazira and Dabhol.

During the month, the Exchange traded deliveries were 6.6 million MMBtu (~5.6 MMSCMD). 

In April 2025, IGX executed first Long Duration Contract (LDC) trade for a three-month delivery period (May-July 2025). A total of 0.32 million MMBtu gas trade was executed in LDC at the Hazira delivery point and was priced against Platts WIM.®

GIXI-West were higher by 1.2 percent compared to All India GIXI at ₹1070/$12.5 per MMBtu but GIXI- East was lower by 5 percent at ₹1005/$11.7 per MMBtu & GIXI – South was lower by 8 percent at ₹975/$11.4 per MMBtu due to transmission and tax differential. GIXI – Dahej (Mar-25) was ₹1026 or $12 / MMBtu, almost 15 percent down MoM. GIXI-Dahej was at discount of $2.7/MMBtu i.e. 18 percent compared to WIM-Ex Dahej settled price for Apr-25.  IGX currently offer trades at 17 delivery points. Out of which, 5 are LNG terminals, 9 are domestic gas field land fall points and 3 are Pipeline Interconnection Points  and  offers delivery-based trade in seven different spot contracts such as Intraday, Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly, under which the trade can be executed for twelve consecutive months and two long duration contracts 3 Months and 6 Months linked to Benchmarks: GIXI, JKM®, WIM® and Dated Brent®. During the month, 108 trades (maximum number) were executed in the Daily, followed by 107 trades in Monthly, 49 trades in Weekly, 13 trades in Day-Ahead, 12 trades in Fortnightly and 1 trade in 3 Month contracts respectively.